Communities across Arkansas now have the opportunity to seek designation as one of the state’s next Opportunity Zones.
The nomination portal is open through July 31 for eligible Arkansas census tracts to be considered for Opportunity Zone status. The federally designated zones are intended to encourage long-term private investment in economically distressed communities through tax incentives.
Beginning Jan. 1, 2027, Arkansas will have 78 Opportunity Zones designated under the updated federal Opportunity Zone program.
Following the nomination period, Gov. Sarah Huckabee Sanders will submit eligible census tracts for consideration. Under federal guidelines, governors may nominate up to 25% of a state’s eligible low-income census tracts, with final certification made by the U.S. Department of the Treasury.
“President Trump’s Opportunity Zones are transforming communities across our country and I’m excited to see the investments they drive to the parts of Arkansas that need it most,” said Governor Sanders. “This is a commonsense policy that brings local leaders and businesses to the same table to build economic momentum, and nearly ten years on, we look forward to it continuing to drive our state forward.”
The new Opportunity Zones will remain in place for 10 years before being redesignated to ensure the program continues to target areas with the greatest economic development needs.
“Increasing investment in our local communities is critical for continued economic growth, and the Opportunity Zone program is one tool to help drive new investment in eligible Arkansas communities,” said Clint O’Neal, executive director of the Arkansas Economic Development Commission. “We encourage communities and Arkansas citizens to nominate eligible census tracts for Opportunity Zone designation to ensure all parts of our state are well-represented for future investment.”
The original Opportunity Zone program, created through the Tax Cuts and Jobs Act of 2017, designated 85 Opportunity Zones across Arkansas in 2018. Those designations will remain in effect through Dec. 31, 2028, alongside the newly designated zones.
To nominate an Arkansas census tract for Opportunity Zone status, click here.
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