Illinois Gets 240 Opportunity Zones 2.0 Tracts
The U.S. Treasury approved 240 Illinois census tracts for the next round of federally designated Opportunity Zones.
Updated on Nov. 5, 2026 in Regional Economics
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The U.S. Department of the Treasury approved 240 qualifying census tracts in Illinois, completing the state's evaluation and engagement process for Opportunity Zones 2.0. The governor announced the approvals on November 5, 2026.
Why it matters
The designations are intended to attract business, create good-paying jobs, and build lasting opportunity for Illinois families across the state. They reflect changes made through federal legislation passed last year.
The Treasury approved 240 tracts, with nearly 90% qualifying as underserved and 32.5% as Rural Opportunity Zones, drawn from more than 500 nominations reviewed by DCEO. The extraction does not specify which individual tracts are included or what private investment has been committed to them.
The players
Illinois Department of Commerce and Economic Opportunity (DCEO)
The state agency that reviewed more than 500 tract nominations and ran the evaluation and engagement process for the designations.
U.S. Department of the Treasury
The federal department that approved the 240 qualifying census tracts for Illinois under the Opportunity Zones program.
The details
The Illinois Department of Commerce and Economic Opportunity (DCEO) evaluated eligible tracts for economic need, investment potential, and housing and workforce indicators, with input from local governments, economic development organizations, community leaders, developers, and investors. Nominations came from businesses, local elected officials, and individuals across all ten economic development regions in Illinois.
Timeline
November 5, 2026: Governor announces Illinois received approval for 240 tracts.
January 2027: Opportunity Zones 2.0 tracts expected to take effect.
Regional Economics Context
The Illinois designations extend the Opportunity Zones program created by the 2017 tax law into a second round shaped by federal legislation passed last year. The 240 approved tracts follow that framework's rules for tax-advantaged investment in designated low-income communities.
For residents and businesses in the approved tracts, the designations are intended to draw investment that could create jobs and local opportunity. The extraction does not describe specific tax or program changes an individual investor or resident would face.
The takeaway
Opportunity Zone designations only matter for a community once investment actually follows, so the January 2027 start date is the point to watch for whether the approved tracts attract the business and jobs the state is aiming for.
What happens next
The Opportunity Zones 2.0 census tracts are expected to take effect beginning in January 2027.
Further reading
Explore more on Regional Economics across Illinois.
Source note: This article includes information reported by WICS.
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