Platform is part of the Qualified Opportunity Zones program, enacted into law through the 2017 Tax Cuts and Jobs Act
Ozzie Areu, founder and CEO of Latino-centric film and TV studio Areu Bros., announced on Tuesday that his company has launched a Qualified Opportunity Zones platform to provide resources to support inclusion and diversity.
The program, Areu said, will encompass entertainment, technology and real estate with Qualified Opportunity Zones in Atlanta, Puerto Rico, Miami, and Los Angeles.
Areu plans to continue to push his young company’s mandate of supporting minority and female storytellers and creators through this Qualified Opportunity Zones program, enacted into law through the 2017 Tax Cuts and Jobs Act. The program provides long-term equity investors with significant tax incentives when they re- invest their capital gains in businesses and real estate located in low-income communities.
“Opportunity Zones stimulate communities through infusing new capital to create jobs and economic growth in underserved areas, much like our home in Fulton County’s Greenbriar neighborhood,” Areu said in a statement. “I’ve spent over a decade working for Tyler Perry witnessing the studio create jobs and opportunity in Greenbriar, and now it is my honor to have the ability to deploy resources to an amazing, vibrant community that has supported…
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