McMaster Submitted New Opportunity Zone Nominations
The South Carolina governor has proposed thousands of acres for tax-incentivized redevelopment across the state.
Updated on Sept. 24, 2026 in Regional Economics
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Governor Henry McMaster has submitted federal opportunity zone nominations aimed at stimulating economic development in distressed areas. The proposal targets significant acreage across York, Lancaster, and Chester counties to attract private capital investment.
Why it matters
The program encourages investors to direct capital gains into funds specifically for redevelopment in low-income regions. By designating these areas, the state hopes to replicate previous successes that generated over $500 million in development within Rock Hill.
The nominations cover 7,454 and 877 acres in York County, 2,620 acres in Lancaster County, and 52,774 acres in Chester County. These proposed sites follow a program update established by the One Big Beautiful Bill Act.
The players
Henry McMaster
He is the current Governor of South Carolina who oversees state-level economic development policy.
The details
Investors participating in the program can place capital gains into special funds to finance projects in distressed communities. The U.S. Treasury is tasked with reviewing these submissions to determine if they meet the necessary criteria for tax incentives.
Timeline
The initial opportunity zone push began in 2017.
The One Big Beautiful Bill Act was signed into law in 2025.
Governor McMaster submitted the new nominations in September 2026.
The new opportunity zones are expected to take effect in 2027.
Macro View
These nominations reflect a broader cycle of decennial updates to economic development zones as mandated by state and federal guidelines. This process aligns with long-term regional planning strategies intended to modernize distressed areas through private investment rather than direct public funding.
Residents in the targeted counties may see increased interest from developers and new construction projects in designated areas. These incentives are designed to revitalize local economies and may impact property values or job availability in affected neighborhoods over the coming years.
The takeaway
The success of these opportunity zones relies on developers finding viable projects that meet the criteria for tax-advantaged capital gains reinvestment. Potential investors should monitor Treasury updates to confirm which specific parcels become eligible for these financial incentives.
What happens next
The U.S. Treasury is scheduled to review these nominations throughout the remainder of 2026, with final approvals expected to determine the program's scope by 2027.
Further reading
Learn more about local investment trends in South Carolina Regional Economics.
Source note: This article includes information reported by The Herald.
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