Nominations are being accepted for federal Opportunity Zone designation

Applications are due July 31

MADISON, WI. JUNE 12, 2026 - The Wisconsin Economic Development Corporation (WEDC) announced today that applications are now being accepted for eligible low-income census tracts to be designated as an Opportunity Zone, a federal designation aimed at spurring long-term investment in low-income urban and rural communities.

Municipalities, counties, Tribal governments, and other public entities should identify economically disadvantaged census tracts for designation and submit an application. Applications open on June 12 and close on July 31.

"An Opportunity Zone designation provides investors with an incentive to consider locating their projects in Wisconsin areas that historically have experienced underinvestment and limited access to capital," said John W. Miller, secretary and CEO of WEDC, the state's leading economic development organization. "This designation strives to spur investment while also providing solutions to community challenges."

WEDC and the Wisconsin Housing and Economic Development Authority (WHEDA) will evaluate the applications. Nominations will be based on several factors, including socio-economic and housing data and responses submitted in the application. Priority will be given to applicants with plans to use the designation to drive existing investment pipelines into workforce housing.

The governor may nominate up to 25% of eligible low-income census tracts every 10 years for certification by the U.S. Department of the Treasury. The governor must submit nominations by Sept. 28, 2026.

In Wisconsin, eligible communities must work with state and local partners to be included in the governor's nomination package. Those selected will maintain the Opportunity Zone designation from Jan. 1, 2027, through Dec. 31, 2036.

The program encourages investors to invest private capital into communities that have experienced underinvestment and limited access to financing. Investors may receive federal tax advantages tied to the duration of the investment.

Opportunity Zones are a federal economic development program created by Congress in 2017. It was reauthorized and updated in 2025 and is often referred to as Opportunity Zone 2.0.

The Opportunity Zone 2.0 framework places emphasis on rural and distressed communities, more targeted incomed eligibility thresholds, increased accountability, reporting, and transparency, and a stronger alignment between investment activity and economic outcomes, including job creation and business growth.

For more information, visit wedc.org/wisconsin-opportunity-zones or contact Christopher Brooks, WEDC Director of Policy and Program Development, [email protected].