The U.S. Department of the Treasury and the Internal Revenue Service announced the Qualified Opportunity Zone designations for all 50 states, territories, and the District of Columbia.
Under President Trump’s Working Families Tax Cuts, the Opportunity Zone tax incentive was permanently renewed, enhanced incentives for investment in eligible rural communities were added, and a process was established for redesignating zones every 10 years. The new QOZ designations will become effective on January 1, 2027, and retain this designation for ten years.
“Under President Trump’s leadership, the Working Families Tax Cuts permanently renewed and strengthened Opportunity Zones, giving investors, entrepreneurs, and local leaders the long-term certainty they need to commit capital to communities that have been overlooked for too long,” said Treasury Secretary Scott Bessent. “Today’s announcement of the new designations will help direct private investment to these communities, expand economic opportunity, support job creation, and unlock long-term growth in these communities across the country.”
Under President Trump’s Working Families Tax Cuts, the permanent renewal of the Opportunity Zone tax incentives, including enhanced incentives for investment in eligible rural communities, will continue to drive private investment in some of America’s most distressed communities. This builds on more than $110B in private-sector investment made since these tax incentives were established by the Tax Cuts and Jobs Act of 2017.
The full list and map of designated Opportunity Zones are available here.
On April 6, Treasury and the IRS released a list of 25,332 eligible census tracts across the country for nomination, of which 8,334 are in rural areas eligible for increased benefits as part of the Working Families Tax Cuts. On July 1, Treasury and the IRS began accepting nominations from Governors and the Mayor of the District of Columbia for eligible census tracts. An additional 130 eligible census tracts, of which 28 were in rural areas, were nominated during the statutory window.
In total, 6,576 eligible census tracts were nominated by the end of the statutory window, of which 2,594 are in rural areas. All of the 6,576 eligible census tracts have been designated as QOZs effective January 1, 2027. Designation as a QOZ can help these 6,576 communities across the country attract new investment, create jobs, stimulate economic growth, and provide meaningful opportunities for residents.
Additional information on nomination procedures was sent directly to the Governors and Mayor of the District of Columbia. The list of eligible census tracts is available here. The poverty rate and median family income for each tract can be found here. (Source: U.S. Department of the Treasury)
EDITOR’S NOTE: 49 new QOZs were identified in Nevada.
