More than 6,500 communities across the U.S. have been designated Qualified Opportunity Zones, which provide tax incentives for investing in distressed areas, the Treasury Department and IRS announced today.
Opportunity Zone tax incentives were made permanent under the One Big Beautiful Bill Act, later renamed the Working Families Tax Cuts. The bill also enhanced incentives for investment in eligible rural communities. Governors must nominate a community to become an Opportunity Zone for it to be eligible for designation. (In the District of Columbia, the mayor must make the nomination.)
More than 6,500 census tracts were nominated this year, including nearly 2,600 in rural areas. All were determined to be eligible to become Opportunity Zones starting on Jan. 1, according to Treasury.
