Learn about the OZ 2.0 designation process and timeline



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Office of economic development and competitivenss  |  February 2026

You're invited: Get involved in OZ 2.0

"Learn more and share your ideas"

Opportunity Zones (OZs) are a federal tax incentive program that encourages investment in certain census tracts by offering capital gains tax benefits. OZs have shown they spark considerable private investment across an array of low-income communities.

A revised program is being rolled out, making the program permanent and featuring new geographic targeting criteria, incentive structures and reporting requirements. Governors are now directed to follow a revised process to designate eligible OZs every ten years. 

Learn about the program changes and how to help shape the future of the Opportunity Zone program in communities across Washington. 

VISIT THE OZ program WEBSITE  [ [link removed] ]

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Register for OZ 2.0 info and feedback sessions

"Help shape the future of OZ 2.0"

Commerce expects the application process to open March 10, 2026 and close on April 10, 2026. Prior to March 10, we invite you to participate in shaping the recommendations for the application and scoring process. Your input will directly inform Commerce’s approach to this work.

After the application period opens, we will host more sessions to answer OZ 2.0 community designation application questions.. 

see the Engagement opportunities section of the OZ WEBSITE [ [link removed] ]

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What's new with OZ 2.0

"A quick overview of key program revisions"

The new program tightens eligibility requirements, focusing on more distressed communities and reducing the expected qualified OZ tracts. Washington currently has 139 OZs across 36 counties and that number will narrow to 98 OZs designated across the state. Of those, at least 25% of OZs in the new program must be located in rural communities. 

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Opportunity Zone 2.0 map of by-county eligible census tracts in WA
Check out the OZ 2.0 dashboard

There are two dashboards in this application, displaying two different sets of maps. 

*All Census Tracts Dashboard* shows all eligible census tracts. Viewers can select by County and the rural and non-rural census tracts will be filtered. Furthermore, when a census tract on the list is selected, the map zooms to that tract and a pop-up window will display that shows all the relevant information. Selecting the county or census tract again will remove the filter and return to statewide view.

*Tribal Lands Census Tracts Dashboard* shows all census tracts on tribal lands in the state. Viewers can select by Tribe and the rural and non-rural census tracts will be filtered. Furthermore, when a census tract on the list is selected, the map zooms to that tract and a pop-up window will display that shows all the relevant information. Selecting the Tribe or census tract again will remove the filter and return to statewide view.

These maps provide information from the US Census Bureau and ACS.

Visit the OZ 2.0 program map dashboard [ [link removed] ]

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Why OZ 2.0 matters

Opportunity Zones (OZs) spur investment and growth to underserved communities – more than any previous policy over a such a short period of time. It’s estimated that investments across this first round of designations are a staggering $90-100 billion across 5,600 low-income U.S. neighborhoods. In Washington, OZ 1.0 resulted in construction of multifamily housing in about 33% of designated zones, creating affordable options for people in communities where they live and work. 

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Let's keep in touch.

This bulletin shares recent economic achievements for the state, and showcases opportunities for companies interested in investing in Washington. 

If you received a forwarded copy, you can subscribe now to receive periodic updates [ [link removed] ] about the Opportunity Zone program. 

If you have specific questions for the Opportunity Zones program team, email [email protected] 

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About Commerce

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Commerce works with local governments, businesses, community-based organizations and tribes to strengthen communities. The department’s diverse portfolio of more than 100 programs and effective public and private partnerships promote sustainable community and economic development to help all Washingtonians thrive. For more information, visit [link removed]. For information on locating or expanding a business in Washington, visit choosewashingtonstate.com [ [link removed] ].

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