On Wednesday, President Donald Trump signed an executive order creating the White House Opportunity and Revitalization Council, a group focused on pushing federal funds toward investments in economically distressed areas.
Part of the Council's efforts will be developing and providing resources for Opportunity Zones, which are census tracts that have been deemed high-poverty areas or that border high-poverty locations. Investors who fund development in these locations will get tax breaks meant to spur growth in sites that are financially distressed.
The Opportunity Zone provision itself was introduced as a part of the 2017 Tax Cuts and Jobs Act.
A White House briefing for the signing described the zones as "a powerful vehicle for bringing economic growth and job creation to the American communities that need them the most."
There is a factor of controversy here. An investigation by the AP released Wednesday found that the program may end up financially benefiting White House advisers Jared Kushner and Ivanka Trump. This is especially notable because Ivanka Trump has been a major promoter of the Opportunity Zone provision.