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There’s no way to prove that the tax break for wealthy investors who buy a stake in a business or property in the zones has created jobs or helped minority businessowners. The federal government chose not to collect information on projects attracting investments in the more than 8,700 zones, leaving policymakers and advocacy groups to rely on anecdotes and self-reporting.
But critics have long said the tax break, which encourages building in designated low-income communities, may end up accelerating gentrification and that it’s unlikely to help Black businessowners.
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