HomeMy WebLinkAbout021126 - Washington Opportunity Zones Program 2_0 (OZ 2_0)ALERT: BE CAUTIOUS This email originated outside the organization. Do not open attachments or click on links if you are not expecting them.
Learn about the OZ 2.0 designation process and timeline
Having trouble viewing this email? View it online <https://links-2.govdelivery.com/CL0/https:%2F%2Fcontent.govdelivery.com%2Faccounts%2FWADOC%2Fbulletins%2F4094361/1/0101019c4ddf51da-6013c812-4bd4-42
af-9cb1-a7437457609b-000000/2vn6daaRDNZ0XQ9V5mqKcCdq9lbTo8dT_LDN5brzx6I=444>
<https://links-2.govdelivery.com/CL0/http:%2F%2Fchoosewashingtonstate.com%2F/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/v-zYJ7RrDiR1BpCtbf1m4M9uN81qRXHt6ZeBb1JzxHA=444>
<https://content.govdelivery.com/attachments/fancy_images/WADOC/2025/03/11177793/6688215/adobestock-1078212543_crop.jpeg>
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 <https://links-2.govdelivery.com/CL0/https:%2F%2Fwww.commerce.wa.gov%2Fopportunity-zones%2F/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/3pIA3bsSBTCq0v
wEajjBBttA4jQjIrX7NaxYf2yo72w=444>
________________________________
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 and close April 10. 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 <https://links-2.govdelivery.com/CL0/https:%2F%2Fwww.commerce.wa.gov%2Fopportunity-zones%2F/2/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437
457609b-000000/CUl1ZKECSbnErwFQO6c1fArciYAOrlDpFN8EmabLfyY=444>
________________________________
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.
________________________________
<https://content.govdelivery.com/attachments/fancy_images/WADOC/2026/02/13124623/oz-2-0-no-legend-jpg_original.png>
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 <https://links-2.govdelivery.com/CL0/https:%2F%2Fexperience.arcgis.com%2Fexperience%2F035ad15299ae4a25ac7585d4d23ec309%2Fpage%2FAll-Census-Tracts/1/0101019c4ddf
51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/LOYqbCv44-0qpAD0CwA2N3OxbWvXttwZJeMnl0jOXyA=444>
________________________________
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.
________________________________
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 <https://links-2.govdelivery.com/CL0/https:%2F%2Fpublic.govdelivery.com%2Faccounts%2FWADOC%2Fsignup%2F48708/1/01010
19c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/L1UAk_P06y4AHJwdXiySrZXXh3fBvrB_km9HBoFcecA=444> about the Opportunity Zone program.
If you have specific questions for the Opportunity Zones program team, email Community.Engagement@commerce.wa.gov <mailto:Community.Engagement@commerce.wa.gov>
________________________________
<https://content.govdelivery.com/attachments/fancy_images/WADOC/2020/01/3080083/emailfooter-stripe_original.png>
<https://content.govdelivery.com/attachments/fancy_images/WADOC/2020/01/3080109/logo-white-250x90_original.png>
About Commerce
Stay connected
www.commerce.wa.gov <https://links-2.govdelivery.com/CL0/https:%2F%2Fgcc02.safelinks.protection.outlook.com%2F%3Furl=http%253A%252F%252Fwww.commerce.wa.gov%252F%26data=05%257C02%257Cscott.varga%2540c
ommerce.wa.gov%257C29febc45f88d4e9864ee08dd76f4f179%257C11d0e217264e400a8ba057dcc127d72d%257C0%257C0%257C638797516569254942%257CUnknown%257CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlA
iOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%253D%253D%257C0%257C%257C%257C%26sdata=g3OJTyhGCt32FCV5HyVG8s6ZyVK%252FbiktQIv9MiTG2Sg%253D%26reserved=0/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609
b-000000/OtRtLGRFzZNQ16gcCeVdpkzAybQOQyfR9rkOqXjSpeI=444> | Facebook <https://links-2.govdelivery.com/CL0/https:%2F%2Fgcc02.safelinks.protection.outlook.com%2F%3Furl=https%253A%252F%252Fwww.facebo
ok.com%252FWAStateCommerce%252F%26data=05%257C02%257Cscott.varga%2540commerce.wa.gov%257C29febc45f88d4e9864ee08dd76f4f179%257C11d0e217264e400a8ba057dcc127d72d%257C0%257C0%257C638797516569285672%257CU
nknown%257CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%253D%253D%257C0%257C%257C%257C%26sdata=3jKBbW9mQ5bHxIJbHRvVXGl0XeygSsNtXob5eDdpaeU%253D%2
6reserved=0/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/nXUc_c90ulVQrMrlzonZjg4n5N-S-nJTG_VI_aUDoIs=444> | X (formerly Twitter) <https://links-2.govdelivery.com/CL0/https:%2F%2F
gcc02.safelinks.protection.outlook.com%2F%3Furl=http%253A%252F%252Fwww.twitter.com%252Fwastatecommerce%26data=05%257C02%257Cscott.varga%2540commerce.wa.gov%257C29febc45f88d4e9864ee08dd76f4f179%257C11
d0e217264e400a8ba057dcc127d72d%257C0%257C0%257C638797516569301995%257CUnknown%257CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%253D%253D%257C0%25
7C%257C%257C%26sdata=2iZr%252FV7OrKGDi0TOZ5%252BSsnoP7jf67X04%252BnoVH25jj7Y%253D%26reserved=0/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/iRnkIYehbepsh83mh8hl5bB0w4YBYfE-3Z9tc8eLE
1c=444> | LinkedIn <https://links-2.govdelivery.com/CL0/https:%2F%2Fgcc02.safelinks.protection.outlook.com%2F%3Furl=https%253A%252F%252Fwww.linkedin.com%252Fcompany%252F893804%26data=05%257C02%257
Cscott.varga%2540commerce.wa.gov%257C29febc45f88d4e9864ee08dd76f4f179%257C11d0e217264e400a8ba057dcc127d72d%257C0%257C0%257C638797516569322240%257CUnknown%257CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiO
iIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%253D%253D%257C0%257C%257C%257C%26sdata=U845vnotI50Tj2spqqm0RLDo3XyIG1Q%252BCvgn%252FfR3Eo0%253D%26reserved=0/1/0101019c4ddf51da-6013c812-4bd4
-42af-9cb1-a7437457609b-000000/rXENPYLeWUeXvOwp9CrTa-4z4RiK-vOyUItHnQ5FM6Q=444> | Instagram <https://links-2.govdelivery.com/CL0/https:%2F%2Fgcc02.safelinks.protection.outlook.com%2F%3Furl=https%2
53A%252F%252Fwww.instagram.com%252Fwastatecommerce%252F%26data=05%257C02%257Cscott.varga%2540commerce.wa.gov%257C29febc45f88d4e9864ee08dd76f4f179%257C11d0e217264e400a8ba057dcc127d72d%257C0%257C0%257C
638797516569341845%257CUnknown%257CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%253D%253D%257C0%257C%257C%257C%26sdata=eRxFVlewIY2cxlri%252Ft53bv
5I8vqi1tbY8bV3Vq3bAK8%253D%26reserved=0/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/9H7ElgWi6mbo0O-zemAkX0vHyFgKG4TSol4pTIF9eRI=444> | Threads <https://links-2.govdelivery.com/C
L0/https:%2F%2Fgcc02.safelinks.protection.outlook.com%2F%3Furl=https%253A%252F%252Fwww.threads.net%252F%2540wastatecommerce%26data=05%257C02%257Cscott.varga%2540commerce.wa.gov%257C29febc45f88d4e9864
ee08dd76f4f179%257C11d0e217264e400a8ba057dcc127d72d%257C0%257C0%257C638797516569357631%257CUnknown%257CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoy
fQ%253D%253D%257C0%257C%257C%257C%26sdata=PU8Fqx9tLPpA7Ona9t%252FIwPundhAQJ0RMU7lAncKNtl0%253D%26reserved=0/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/QMUT1fs7tJ9Podzm2oH9oOwGpkAz
8EdHWhM9SU9v6ro=444> | Bluesky <https://links-2.govdelivery.com/CL0/https:%2F%2Fgcc02.safelinks.protection.outlook.com%2F%3Furl=https%253A%252F%252Fbsky.app%252Fprofile%252Fwastatecommerce.bsky.soc
ial%26data=05%257C02%257Cscott.varga%2540commerce.wa.gov%257C29febc45f88d4e9864ee08dd76f4f179%257C11d0e217264e400a8ba057dcc127d72d%257C0%257C0%257C638797516569371086%257CUnknown%257CTWFpbGZsb3d8eyJFb
XB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%253D%253D%257C0%257C%257C%257C%26sdata=Ivk2GOogc5aFi3eL3AxEGEbUcIHztHNSlcogWsSD2Qs%253D%26reserved=0/1/0101019c4ddf51
da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/TPspNOdIdl87TzBN_kAvXWy5DAwKa362J0YkLK-lIso=444> | Subscribe <https://links-2.govdelivery.com/CL0/https:%2F%2Fpublic.govdelivery.com%2Faccounts%2FWAD
OC%2Fsubscribers%2Fnew/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/y3SGWOvgcJw1JU-KukH3SCyZIXUXfWedMx7CTKuK9gw=444>
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 http://www.commerce.wa.gov
<https://links-2.govdelivery.com/CL0/http:%2F%2Fwww.commerce.wa.gov/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/jWS5IhL1xK7_WJCepLj0A8MNKxsrpVxNNyNoSAQlHhs=444> .
For information on locating or expanding a business in Washington, visit choosewashingtonstate.com <https://links-2.govdelivery.com/CL0/http:%2F%2Fchoosewashingtonstate.com%2F/2/0101019c4ddf51da-601
3c812-4bd4-42af-9cb1-a7437457609b-000000/1lWs1ArhzK_M_qMCEQdCcYKcXIqf8RTQlPNRRC6CqFc=444> .
Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page <https://links-2.govdelivery.com/CL0/https:%2F%2Fpublic.govdeli
very.com%2Faccounts%2FWADOC%2Fsubscriber%2Fnew%3Fpreferences=true/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/IM8I4M2JZRQCwuNphZiqODqOQsBGf3EDvPKO4ijHZ70=444> . You
will need to use your email address to log in. If you have questions or problems with the subscription service, please visit subscriberhelp.govdelivery.com <https://links-2.govdelivery.com/CL0/https
:%2F%2Fsubscriberhelp.govdelivery.com%2F/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/4kQJSgOSjpCq9oX5TaHH6uG1QV-PQ34GzrrOYfnRmlQ=444> .
This service is provided to you at no charge by Washington Department of Commerce <https://links-2.govdelivery.com/CL0/https:%2F%2Fwww.commerce.wa.gov%2F/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7
437457609b-000000/2DZVO7ZTc8plKmIpi7yOLDXqyRAbhfhiIg3UrL-2sh0=444> .
Subscribe <https://links-2.govdelivery.com/CL0/https:%2F%2Fpublic.govdelivery.com%2Faccounts%2FWADOC%2Fsubscriber%2Fnew%3Fpop=t/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/--06LbKn
4RQTznBNM65b34rdmKAzDOgmdFZ94Occr_8=444> | Manage Preferences <https://links-2.govdelivery.com/CL0/http:%2F%2Fpublic.govdelivery.com%2Faccounts%2FWADOC%2Fsubscribers%2Fnew%3Fpreferences=true/1/01010
19c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/K8jYgq5tpoH7LQTuJtiVcZVk7K_FiSAOWxmqA9HeENU=444> | Unsubscribe All <https://links-2.govdelivery.com/CL0/https:%2F%2Fpublic.govdelivery.com%2Fa
ccounts%2FWADOC%2Fsubscriber%2Fone_click_unsubscribe%3Fverification=5.2c3b0d991e4dc54318bc730accdee76a%26destination=jeffbocc%2540co.jefferson.wa.us/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a743745
7609b-000000/jBgxgXhf5EpxAP5hTYCZ8jIT2Zy__xkVO-E4WT-D0fg=444> | Help <https://links-2.govdelivery.com/CL0/https:%2F%2Fsubscriberhelp.govdelivery.com%2F/2/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a74
37457609b-000000/wBPsbVrkFqiCPJq0pnwgPfexDYAFBmMEcR7OlZ6t3_U=444> | Contact us <https://links-2.govdelivery.com/CL0/https:%2F%2Fwww.commerce.wa.gov%2Fcontact-us%2F/1/0101019c4ddf51da-6013c812-4bd4-4
2af-9cb1-a7437457609b-000000/cPwZS8V-yUgltF5ysSCqgi8IOKx1eWla-PglYBXtIyE=444>
<https://content.govdelivery.com/attachments/fancy_images/WADOC/2019/04/2537294/line2_original.jpg>
This email was sent to jeffbocc@co.jefferson.wa.us using GovDelivery Communications Cloud on behalf of: Washington State Department of Commerce · 1011 Plum Street SE, P.O. Box 42525
· Olympia, WA 98504-2525
<https://links-2.govdelivery.com/CL0/https:%2F%2Fsubscriberhelp.granicus.com%2F/1/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/tFCfg7WIpeV3NQpDoCH1V6EbaWhZ_L39_uxdx_lgM6o=444>
<https://links-2.govdelivery.com/CI0/0101019c4ddf51da-6013c812-4bd4-42af-9cb1-a7437457609b-000000/Bqih3u5ydO-76qRX1F3ot7tveXIdSPLG1lgwDUSRO_M=444>