The U.S. Department of the Treasury has announced the opening of the next nomination period for states, territories, and the District of Columbia to designate eligible communities as Qualified Opportunity Zones (QOZs).
This initiative, permanently renewed and strengthened under President Trump’s Working Families Tax Cuts, aims to drive private capital into overlooked communities across America. The legislation also introduced enhanced incentives for investments in eligible rural areas and established a 10-year redesignation cycle for these zones.
Treasury Secretary Scott Bessent emphasized the program's impact, saying, “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.” He added, “With the nomination period now open, governors have the opportunity to help direct private investment to communities that stand to benefit most. Treasury looks forward to working with states to expand economic opportunity, support job creation, and unlock long-term growth in communities across the country.”
The Community Development Financial Institutions Fund (CDFI Fund) has provided an Opportunity Zone Nomination Tool to assist governors in identifying and selecting communities. This current nomination period will determine which census tracts are eligible for new investment starting January 1, 2027, with new designations occurring only once every decade. The Treasury Department and IRS have released a list of 25,332 eligible census tracts, including 8,334 qualifying for rural benefits.