Opportunity Alabama: Difference between revisions
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* [https://opportunityalabama.com/ Opportunity Alabama] website | * [https://opportunityalabama.com/ Opportunity Alabama] website | ||
[[Category: | [[Category: Economic development nonprofits]] | ||
[[Category: 2018 establishments]] | [[Category: 2018 establishments]] | ||
[[Category: 1st Avenue South]] | [[Category: 1st Avenue South]] | ||
[[Category: Burger-Phillips | [[Category: Burger-Phillips Building]] | ||
Latest revision as of 13:51, 13 May 2024
Opportunity Alabama (OPAL) in a 501(c)(3) non-profit organization founded in 2018 by Balch & Bingham attorney Alex Flachsbart to promote to promote investment in Alabama's Opportunity Zones, created with the passage of the U.S. Tax Cuts and Jobs Act of 2017 and administered by the Treasury Department.
Opportunity Alabama works with two independent subsidiaries: OPAL Investments, a C corporation which provides investment advice, and Opal Advisory, a limited-liability company which provides consulting services. In 2021 OPAL Advisory partnered with Blueprint Local of New York City to launch a $13 million "OPAL Fund" to empower smaller investors to support projects in Alabama.
Opportunity Alabama shares offices with the Economic Development Partnership of Alabama at 1320 1st Avenue South in Birmingham's Parkside District. In 2024 the Opal Fund joined with Tessa Commercial Real Estate to redevelop the ground floor of the Burger-Phillips Building at 1914 3rd Avenue North, for their offices.
References
- Van der Bijl, Hanno (April 21, 2021) "Opportunity Alabama launches $13M OZ fund to spur local impact development." Birmingham Business Journal
External links
- Opportunity Alabama website