While there is no reporting requirements or mechanisms in the legislation that created the Opportunity Zones, the executive branch has coordinated a plan for analyzing usage and following the impacts of the investment driven by the Opportunity Zone. The White House Council of Economic Advisors is tasked with measuring the economic impact created by these zones and following the trends over time.

The departments of Treasury, Housing and Urban Development (HUD), Commerce are responsible for tracking the use of the opportunity zone benefits done to the project level. The Treasury Department’s Internal Revenue Service (IRS) certifies qualified Opportunity Funds and disburses tax benefits for applicable expenditures. HUD categorizes and maps the investments and the effects on the host communities. The Department of Commerce tracks the incentives compounded by the investment and leverages the investment for further economic development.

At the local level, effectiveness of Opportunity Zones begins at the planning stage with inventorying the designated zones. Now, public and private funding partners and stakeholders discuss the implications of activities in the zones at the project development stage. Because of the broad overlap, these conversations most often include examination of the use of Tax Credits for New Market or Low-Income Housing. Online resources and marketing tools with research and public information have played a critical role in educating developers and potential investors in the early stages.