Treasury and IRS Designate 6,576 Opportunity Zones Across the U.S. to Boost Investment

EXCLUSIVE: The Treasury Department and the Internal Revenue Service announced Thursday the designation of 6,576 Opportunity Zones nationwide – including in all 50 states, U.S. territories and Washington, D.C. – opening a new 10-year window for private investment in economically distressed communities.

The designations will take effect January 1, 2027, per Treasury and IRS guidance, and will remain in place for a decade.

Of the newly designated areas, 2,594 are in rural communities eligible for enhanced tax incentives under the law.

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The designation of 6,576 Opportunity Zones nationwide includes all 50 states, U.S. territories and Washington, DC. (Somodevilla chip)

Opportunity Zones are economically distressed census tracts where qualifying investments can receive preferential tax treatment. The program was created under the 2017 tax law and was made permanent as part of President Donald Trump’s tax cuts for working families.

Treasury said the program has helped generate more than $110 billion in private sector investment since its inception.

Opportunity Zones are economically distressed census tracts where qualifying investments can receive preferential tax treatment. (Nicolas Economou/NurPhoto via Getty Images)

The new designations aim to leverage this investment by attracting additional private capital, supporting job creation and spurring economic growth in communities that have historically struggled to attract investment.

“Under President Trump’s leadership, tax cuts for working families have continually 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 neglected for too long,” Treasury Secretary Scott Bessent said in a statement obtained by FOX Business.

The designations will take effect January 1, 2027, per Treasury and IRS guidance, and will remain in place for a decade. (Kayla Bartkowski/Bloomberg via Getty Images)

The designations follow a nomination process that began July 1, during which states, territories and the District of Columbia selected eligible census tracts for consideration.

Treasury and the IRS initially identified 25,332 eligible census tracts, including 8,334 rural tracts, for consideration.

The final list includes about a quarter of eligible parcels nationwide.

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The Treasury Department has made available a comprehensive list and map of newly designated Opportunity Zones, along with data on the poverty rate and median family income for each census tract.