Federal Opportunity Zones

Oklahoma’s OZs allow investors to realize significant federal tax benefits through investing capital gains in Qualified Opportunity Funds. Home / Doing Business / Business Relocation + Expansion / Taxes + Incentives / Federal Opportunity Zones Federal Opportunity Zones Federal Opportunity Zones  (OZs)  were created by Congress in the Investing in Opportunity Act included in the Tax Cuts and Jobs Act of 2017. OZs are designed to stimulate long-term private investment in low-income urban and rural communities by allowing investors to realize significant federal tax benefits through investing capital gains in Qualified Opportunity Funds. Benefits, which include tax deferrals and reduction, increase the longer investments are held in Opportunity Funds.  Investors cannot invest directly in qualified projects or properties but  must  go through an Opportunity Fund. Oklahoma has taken full advantage of the Tax Cuts and Jobs Act ( 1) of 2017 designating 117 Census tracts as Federal Opportunity Zones (OZs). How to Invest in Federal Opportunity Zones Opportunity Zone 2.0 The Opportunity Zone (OZ) program, created in 2017 and administered by the Department of the Treasury, has been updated and made permanent through House Resolution 1—the One Big Beautiful Bill Act—passed by Congress in 2025. The renewed Opportunity Zone 2.0 program will take effect on January 1, 2027. Opportunity Zones are intended to spur long-term private investment in low-income urban and rural communities. By investing capital gains in Qualified Opportunity Funds, investors may receive significant federal tax benefits while helping drive economic growth in underserved areas. Beginning July 1, 2026, governors will have 90 days to nominate up to 25% of their state’s eligible census tracts for inclusion in the next round of Opportunity Zones. These designations will take effect January 1, 2027, and remain in place for ten years. As part of the upcoming designation process, we are seeking public input on candidate locations that qualify for consideration. Commerce will evaluate eligible census tracts to assess their economic development potential, with public feedback serving as an important factor in the review. Opportunity Zone 2.0 Nomination Guidance Monday, April 6, 2026, the US Department of the Treasury and IRS issued Rev. Proc. 2026-12, which provides guidance to the Chief Executive Officer of any of the District of Columbia regarding the procedure for nominating census tracts as qualified opportunity zones (QOZs) under the Bill of 2025. The submission window is from July 1, 2026, through September 28, 2026. View OZ 2.0 Nomination Guidance from the IRS Key Highlights include: There are 413 “On-list” eligible census tracts for nomination in Oklahoma. 188 “On-list” eligible census tracts are identified as “Rural Areas” and if nominated would receive the OZ 2.0 Rural benefits. That equates to 45.5% of all those on the “On-list.” The 2020 census tract boundaries will be used for the entirety of the OZ designation period meaning any boundary changes to census tracts as a result of the 2030 census will be disregarded. Federal Opportunity Zone Nomination The nomination form is now open. Make a Federal Opportunity Zone Nomination View a map of census tracts potentially eligible for Opportunity Zone Nominations 2026 Investment Opportunities Federal OZ Project Examples Explore examples of Oklahoma’s projects located in Federal OZs. Launch Federal Opportunity Zone projects map Oklahoma's Potential Sites for Projects in Opportunity Zones View OZs and locate all listed available buildings and sites within them. Locate Opportunity Zones buildings and sites Why Invest in Oklahoma Often thought of as an energy state, Oklahoma has diversified its economy by rapidly growing the aerospace, manufacturing and business services sectors. Investments in Oklahoma benefit from the state’s low c