Opportunity Zones (OZ) were created to help stimulate local economies by giving investors preferential tax treatment for establishing small businesses in designated areas known as “opportunity zones.” When the Tax Cuts and Job Act (TCJA) was enacted in 2017, state governors played a part in nominating regions to be considered for opportunity zone status. These areas were later approved by the U.S. Treasury and are acknowledged as Opportunity Zones by the U.S. Government.
With over 8700 opportunity zones designated by TCJA, investors in all 50 States, the District of Columbia, and all 5 U.S. Territories have many options to participate in this federal opportunity zone program. A map showing Opportunity Zones by State may be found here.
To see where Opportunity Zones are in your state or territory, take a look at the following list and click on the links below to view your state/territory map.
District of Columbia
Northern Mariana Islands
If you are interested in learning more about how you can become a Qualified Opportunity Zone investor, or have questions about whether your existing businesses may qualify for the QOZ program, please contact our QOZB Expert team.