Benefitting from Opportunity Zones?

You might have heard reference to Opportunity Zones in the news, but you’ve likely never really thought about how they might impact Community Cats. Opportunity Zones designations were created in 2017 as a way to encourage investment in communities that need job growth and support. This is a perk for the wealthy, as they can invest in these communities without having to pay a capital gains tax on money used as an investment. Here is a good link about the details on the program: fundrise.com.

So why should we in the cat welfare world care, since this applies to “for-profit” companies? Well, I am seeing a very strong movement of veterinarians opening their own “for-profit” low-cost practices, and I think this could be a great resource for them to build their model for consideration around the country. The Humane Alliance clinic model was an incredible point in the history of spay/neuter accessibility for our cats and dogs in the country. They created an excellent “franchise” model that has worked well for many. Now I think it is time for the “for-profit” franchises to think about creating a model that will work in Opportunity Zones. Panera has developed a special franchise model, “Panera Cares,” that works in low-income communities, and I think it is time for a chain of veterinarians to help support a similar model in the companion animal world.

Another way that these clinics could work is by utilizing strong collaborative partnerships between a for-profit clinic and a non-profit support organization (sort of like a “friends of” model). This is an opportunity not to be missed. If you are thinking of starting a clinic in your area, please check out Opportunity Zones funds as a source of investment.

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