99 Washington Opportunity Zones Approved

WA DEPT OF COMMERCE - The U.S. Department of the Treasury has approved all 99 census tracts nominated by Gov. Bob Ferguson for designation under the federal Opportunity Zones 2.0 program. The approved areas span 27 counties, including 17 tribal lands and 36 rural communities. The new designations take effect Jan. 1, 2027.

The approval marks the next step in Washington's efforts to attract private investment to low-income communities. Opportunity Zones encourage investors, developers and financial institutions to invest in businesses, housing and other community development projects within designated census tracts through federal tax incentives.

"Every community in Washington deserves the opportunity to grow and prosper," Gov. Ferguson said. "With all of our nominations approved, we can help connect private investment with communities that are ready to build housing, support local businesses and create jobs. These designations give communities another tool to shape their economic futures."

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Note:  The City of Kent secured five of the 99 nominations made statewide, giving the City a new tool to attract private investment, support business growth and create jobs.

• West Hill and Midway (290.04): The designation could help attract investment for new housing and mixed-use projects near light rail and transit, building on the City's plans for growth in Midway.
• Kent Valley (292.06): Investment could help modernize older warehouses and industrial buildings, creating space for advanced manufacturing and other growing industries. It may also support new renewable energy technologies.
• East Hill (295.05): The nominated area includes properties near Kent-Meridian High School and the former Fred Meyer site. The designation could help bring new businesses, housing and services to properties that have struggled to attract investment.
• Downtown and Central Avenue (292.03 & 297.01): Older buildings, polluted land, lower rents and high construction costs can make redevelopment difficult. Opportunity Zone benefits could help attract investment to improve these properties and strengthen Downtown and Central Avenue.

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