Community Development

Opportunity Zone Program

Opportunity Zones were created by the Tax Credit and Jobs Act of 2017 (OZ-1.0). The program is designed to encourage investors, businesses, developers, financial institutions, and other investors to reinvest capital gains into distressed census tracts to foster job creation. The benefit is deferral, reduction, and potential elimination of taxes on capital gains and not rebates or grants. The One Big Beautiful Bill of 2025 made the program a permanent part of the tax code and further refined the program (OZ-2.0).

OZ-2.0 – (Starting January 1, 2027)
New zones will be nominated by Governors starting July 1, 2026, and qualified by the U.S. Treasury by December 31, 2026, to take effect on January 1, 2027. Hereafter, Zones will be nominated and designated every 10 years. More restrictive eligibility criteria will be applied to qualify new census tracts, including a lower median family income threshold less than 70% and elimination of contiguous tracts. OZ-2.0 established additional reporting for OZ funds and businesses, and a two-year overlap period (2027–2028) when both OZ-1.0 and OZ-2.0 maps will be in effect. The goal of the new legislation is to broaden investments to include more operating businesses and rural areas. Investments in rural areas will receive a 30% basis step-up after five years compared to the standard 10% for non-rural investments. The chart below summarizes the key differences between OZ-1.0 and OZ-2.0.

Introduction to Opportunity Zones 2.0 Presentation

Potential Opportunity Zone 2.0 Eligible Tracts and Economic Data Map

Potential Opportunity Zone 2.0 Low-Income Community (LIC) Eligibility Map

Census Tracts Eligible for Opportunity Zone Nomination 2026

Opportunity Zones 2.0: Guidance for Governors and Mayors - Economic Innovation Group

Upcoming Opportunity Zone 2.0 Tour Dates

• 3/10/2026 - Panacea Working Waterfronts Meeting
• Location:Posey’s Up the Creek Steam Room
• 1506 Coastal Highway, Panacea, Florida 32346
• Time: 9 a.m.

• 3/10/2026 - Live Oak Opportunity Zones 2.0 Workshop
• Location: Suwannee Valley Electric Cooperative
• 11340 100th St., Live Oak, Florida
• Time: 10 a.m - 12 p.m.

• 3/10/2026 - Perry City Council Meeting
• Location:Perry City County Chamber
• 224 S. Jefferson Street, Perry, Florida
• Time: 4 p.m.

• 3/11/2026 - Opportunity Florida Board Meeting
• Location: Rivertown Community Church
• 19359 FL-71, Blountstown, Florida 32424 
• Time: 12:30 p.m. - 2:30 p.m.

• 3/19/2026 - Jacksonville, Florida

• 4/8/2026 - Okeechobee County Opportunity Zone 2.0 Workshop
• Location: Indian River State College
• 3209 Virginia Ave, Fort Pierce, Florida 34981
• Time: 11:30 a.m.

• 5/6/2026 - Rural Economic Development Initiative (REDI) Meeting
• Location: Calhoun-Liberty Hospital
•  16257 State Road 71, Blountstown, Florida 32424

• 5/13 - 5/15/2026 - FEDC IGNITE Annual Conference
• Location: JW Marriott Orlando Bonnet Creek
• 14900 Chelonia Pkwy, Orlando, Florida 32821

If you would like the FloridaCommerce team to speak to your group about Opportunity Zones 2.0 please email OpportunityZones@commerce.fl.gov.

OZ-1.0 (2017-2028)
Governors nominated up to 25% of census tracts with median family incomes less than 80% of their general area or a poverty rate of 20% or higher. In Florida, a total of 427 Qualified Opportunity Zones were designated, with at least one OZ located in every county in the state.

OZ-1.0 zones expire on December 31, 2028.

Summary of Key Differences