DENVER ~ The U.S. Department of the Treasury has approved all 91 census tracts Colorado nominated for a new round of federal Opportunity Zone designations, Gov. Jared Polis announced. The zones are scheduled to become eligible for investment on Jan. 1, 2027.

The federal program offers tax benefits to private investors who invest in real estate, infrastructure projects and operating businesses in designated low-income communities. Colorado estimates the new designations could attract more than $4 billion in investment, though the amount is not guaranteed.

"This complete approval is a major milestone for economic growth in Colorado," Polis said, adding that investment could support infrastructure, housing, manufacturing and businesses.

The state submitted its nominations in September after a stakeholder engagement process led by the Colorado Office of Economic Development and International Trade. The office said it held more than 100 stakeholder meetings, six statewide webinars and four regional in-person gatherings, and conducted a statewide survey.

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OEDIT Executive Director Eve Lieberman said the approval reflected months of locally informed collaboration. The state said its selection process sought to include rural areas and communities beyond the Front Range, while aligning with existing efforts to diversify local economies.

Of the approved tracts, 28 are in rural communities, 35 are outside the Front Range and 10 are in Coal Transition Communities, according to the state. The state also reported that 89 tracts overlap with an Enterprise Zone and 47 include transit-oriented communities.

OEDIT plans to provide grants to Colorado communities in the designated zones to help attract investment. Guidance on the grants is expected before the end of the year, with webinars and further information planned for early 2027, the agency said.

The new designations follow changes to the federal program under H.R. 1, which made Opportunity Zones permanent and updated eligibility requirements and benefits. Treasury identified 362 eligible census tracts in Colorado and invited the state to nominate up to 91.

Colorado said the first round of Opportunity Zones had attracted more than $3.2 billion in investment through the end of 2024. The state reported that 94% of the original designated zones received investment, including 95% of rural zones.

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