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"Opportunity" Running Out for Investors

Mark Elliot
Mike Switzer/SC Public Radio

For the past year and a half we’ve been hearing about Opportunity Zones, the part of the 2017 tax reform law that sought to direct investment money into poverty-stricken communities across the US. It took almost a year for the IRS to issue the rules for these investment funds and now time is running out for investors to be able to take maximum advantage of the tax benefits offered by them.

Mike Switzer interviews Mark Elliott, founder of the South Carolina Opportunity Fund in Greenville, SC.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.