Gov. McMaster Completes South Carolina’s Opportunity Zone Submission to U.S. Treasury

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 South Carolina Governor’s Office. The wording below is the issuer’s statement.

September 24, 2026

COLUMBIA, S.C. – Gov. Henry McMaster today announced the completion of South Carolina’s submission of recommended Opportunity Zone census tracts to the U.S. Department of the Treasury. This announcement follows a statewide process led by the South Carolina Department of Commerce to gather input from local governments, economic development organizations, community leaders and the public.

Gov. McMaster submitted South Carolina’s Opportunity Zone nominations to the U.S. Treasury on September 23, 2026. The submission represents the next step in the redesignation of South Carolina’s Opportunity Zones under changes to the federal program enacted through the One Big Beautiful Bill Act (OBBBA).

“South Carolina has seen the value of Opportunity Zones in bringing investment and new opportunities to communities across our state,” said Gov. McMaster. “With the program now permanent, we can build on what has worked, focus on the communities with the greatest opportunities for investment, and continue strengthening South Carolina’s position for future economic development.”

The OBBBA, signed into law on July 4, 2025, made the Opportunity Zone program permanent and established a new redesignation process. Under the updated law, Opportunity Zones will be redesignated every 10 years.

Each governor may nominate up to 25 percent of a state’s eligible census tracts for designation as Opportunity Zones. Beginning July 1, 2026, governors were able to submit their nominations to the U.S. Treasury.

The U.S. Treasury will review South Carolina’s nominations before the new Opportunity Zones take effect on January 1, 2027.

A list of South Carolina’s submitted Opportunity Zone nominations and additional information about the nomination process can be found on the South Carolina Department of Commerce’s Opportunity Zone webpage.

As South Carolina waits for the next Opportunity Zones to take effect, Gov. McMaster is also calling on the General Assembly to prioritize conforming South Carolina’s tax code to the new federal Opportunity Zone provisions established by the OBBBA.

A copy of the Governor’s letter can be found here.

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Release text attributed to South Carolina Governor’s Office. Consult the official publication for any subsequent corrections or updates.