Utah Recommends 37 Census Tracts for Opportunity Zone Designation

What this means

A factual summary is pending editorial review. The complete official release is reproduced below with issuer attribution and a direct link to the original publication.

Official release

Source material from Utah Governor’s Office of Economic Opportunity. The wording below is the issuer’s statement.

The Governor’s Office of Economic Development announced today that Gov. Spencer J. Cox has recommended 37 census tracts for designation as Opportunity Zones under the federal Opportunity Zone 2.0 program. The Treasury Department is expected to certify these selections in December.

To help inform Governor Cox’s formal recommendations, the Governor’s Office of Economic Development (GOED) conducted a rigorous analysis that combined quantitative methods with input from cities, counties, economic development organizations, business owners, and developers across the state. Utah has 147 census tracts that met the federal eligibility requirements for consideration. Federal law allows the state to nominate 25% of eligible tracts, limiting Utah’s recommendation to 37.

“Opportunity Zones give us another tool to encourage investment in communities that can benefit from new capital, new businesses and new jobs,” said Gov. Spencer Cox. “We wanted to approach this process thoughtfully and make recommendations based on both the data and what we heard from communities across Utah.”

GOED evaluated eligible tracts using a range of factors, including employment levels and growth, population growth, capital flows, existing infrastructure, labor market engagement, demographic and economic conditions, and input from civic and business leaders in the identified tracts. In particular, GOED emphasized input from cities and counties that identified specific tracts as their top priority, as well as those that identified specific development projects. Overall, the aim was to balance three key priorities:

Upholding the preferences and priorities of local voices, including counties, municipalities, economic development organizations, businesses, and developers.

Identifying and prioritizing tracts most likely to attract private investment.

The geographic composition of the eligible tracts. Of the 147 eligible tracts, 117 were urban, and 30 were rural. Accordingly, the recommended list includes 27 urban tracts and 10 rural tracts.

As part of the process, GOED hosted two statewide informational webinars and distributed and analyzed a statewide survey of local economic development professionals, business owners, local officials, and developers. GOED followed up with respondents as needed to confirm details and project plans.

“We wanted the process to be grounded in evidence while still reflecting what communities and economic development partners told us about their areas,” said Jefferson Moss, commissioner of the Governor’s Office of Economic Development. “The result is a list that reflects both the underlying data and the local knowledge gathered throughout the process.”

Utah’s 37 Recommended Opportunity Zones

Utah has recommended the following census tracts to the U.S. Department of the Treasury (Map). Treasury is expected to certify the final Opportunity Zone designations in December, with new Opportunity Zone 2.0 designations and investment rules taking effect Jan. 1, 2027.

Opportunity Zones are a federal economic development tool intended to encourage private investment in eligible communities. The program provides significant federal tax incentives for qualifying investments made through Qualified Opportunity Funds. The federal government determines which census tracts are eligible, and states nominate a limited number of these eligible tracts for designation.

For more information about Utah’s Opportunity Zone process, visit business.utah.gov/opportunity-zones.

Release text attributed to Utah Governor’s Office of Economic Opportunity. Consult the official publication for any subsequent corrections or updates.