Opportunity Zones promised to funnel long-term capital into neglected neighborhoods. The idea had potential. Too often execution favored large developers and absentee investment rather than local entrepreneurs. The result was headlines but limited local business transformation.
Fixing that requires accountability. We need local governance, community representation on OZ investment committees, and carve-outs that require a percentage of capital to seed Black-owned small businesses. That keeps projects rooted in local needs and creates jobs where they matter most.
SpadesLife will pilot a community-first OZ model: local advisory panels, micro-grant windows for founders, and a requirement that a portion of exits returns to a community reinvestment fund. That turns tax incentives into real, measurable local prosperity.