`Badger State Opportunity Fund` Tries To Spur Investment In 120 Wisconsin Neighborhoods

A fund created in Racine, called the Badger State Opportunity Fund, will try to ignite investments in Wisconsin`s 120 Opportunity Zones. 

Created by the 2017 federal tax cut law, opportunity zones were "designed to spur economic development and job creation in distressed communities," the IRS says, "by providing tax benefits to investors who invest eligible capital into these communities. Taxpayers may defer tax on eligible capital gains by making an appropriate investment in a Qualified Opportunity Fund and meeting other requirements."

City leaders in Racine say they`ve created the first statewide Opportunity Fund that offers investors diversified options for their money. Now, the leaders are recruiting upper-middle class and wealthy people, with a goal of raising $15-25 million. ...