The U.S. Department of the Treasury and the Internal Revenue Service announced Qualified Opportunity Zone designations for more than 6,500 communities across all 50 states, as well as U.S. territories, and the District of Columbia.
The Opportunity Zone tax incentive was renewed as part of the Working Families Tax Cuts, or the One Big Beautiful Bill, passed in 2025. The incentive creates enhanced incentives for investment in eligible rural communities, and establishes a process for opportunity zones to be redesignated every 10 years. The new QOZ designations will be effective as of Jan. 1, 2027.
“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,” Treasury Secretary Scott Bessent said. “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.”
On April 6, Treasury and the IRS identified 25,332 census tracts across the country that were eligible for nomination, of which 8,334 were in rural areas. 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 all, 6,576 census tracks were nominated, of which 2,594 were in rural areas. All of those nominated areas were designated as QOZs. The designation can help these eligible communities across the country attract new investment, create jobs, stimulate economic growth and provide meaningful opportunities for residents.
“By designating thousands of new Qualified Opportunity Zones, the IRS and Treasury are enabling targeted investment and growth in communities where it is needed the most,” IRS Chief Executive Officer Frank J. Bisignano said.