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