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VC-led project will help cities make the most of "Opportunity Zones"

President Trump at lectern flanked by Republican leaders
President Trump, Vice President Pence, and Republican leaders celebrate passage of their tax cut. Photo: Saul Loeb/AFP/Getty Images

Venture capitalist Mike Hirshland is launching an effort to help cities and states make use of a portion of the 2017 Republican tax law that’s meant to boost economically struggling areas of the country.

The big picture: Supporters of these so-called Opportunity Zones established by the new tax law say they’ll encourage private investment where it’s needed most. It's a model that hasn’t yet been proven out.