Opportunity Zones

Updated: June 5, 2026

Over the next several months, GOED will be working to make recommendations on new Opportunity Zones across the state.

Recommendations about designations will be based on both quantitative and qualitative data to assess census tracts and their viability.

An informational webinar was held earlier this month. You may also reference the Utah Opportunity Zone Map below as a resource in this process; note that yellow indicates eligible census tracts.

If you have any questions regarding this process or the informational survey, please reach out to Data Manager Olivia Midgley at [email protected].

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What is an Opportunity Zone?

An Opportunity Zone is a federally designated economic development tool aimed at driving job creation and economic growth in low-income areas around the country. These areas are considered distressed and in need of new investment.

By incentivizing investors to re-invest capital gains into Qualified Opportunity Funds within designated zones, private capital is channeled into these communities.

Under the One Big Beautiful Bill Act, the potential benefits for investors in opportunity zones are significant. For example, five-year investments in Qualified Rural Opportunity Funds provide a 30% step-up in basis after five years. Potentially, this triples the tax incentive for those willing to invest in its rural areas.

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Timeline & Governor’s Recommendations

Governor Cox will be making official recommendations for new Opportunity Zone designations in September 2026.

Utah can submit 25% of eligible tracts to the Treasury for Opportunity Zone designations. Due to federal eligibility criteria regarding poverty rates and median family income, the state will nominate 37 census tracts (of the 147 total eligible tracts).

Data-Driven and Qualitative Selection

The Treasury sets the parameters of what can and cannot be designated as an OZ. Eligible census tracts must meet one of the following criteria:

  • A poverty rate of at least 20 (or)
  • A median family income (MFI) that does not exceed 70% of the statewide or metropolitan area median (a change from the previous 80% threshold)
  • Lands adjacent to or outside the eligibility zones designated on the eligible census tracts map do not qualify and will not be considered

What You Can Do

We invite you to learn more about how Opportunity Zones can benefit your specific region. GOED is dedicated to handling this process in a timely and fair manner to ensure the eventual designations balance the needs of our communities with the potential for tangible economic success. To learn more, watch this informational webinar or email Data Manager Olivia Midgley at [email protected].