Richmond Gains Eight Opportunity Zones as All 153 New Virginia Zones Take Effect in 2027
Richmond, Virginia, will gain eight new federal Opportunity Zones, in designations announced Nov. 7. On Nov. 5, the U.S. Treasury Department approved all 153 zones Virginia had nominated statewide, 77 of them in rural areas; the new zones take effect Jan. 1, 2027 for a 10-year term through Dec. 31, 2036. Richmond's new zones cover census tracts including areas near Virginia Union University along Chamberlayne Avenue, the Gilpin Court public housing area, and the arts district between East Broad and Canal streets and between Belvidere and North 5th streets. Investors in projects in these economically distressed areas can receive tax incentives. Virginia Secretary of Commerce and Trade Carrie Chenery said at the Nov. 6 announcement that Opportunity Zones are 'an important tool for directing investment where it can do the most good.' The federal Opportunity Zone program first launched in 2018, when Richmond received 11 zones; those original designations remain in place through the end of 2028. The state says the new zones will prioritize housing, downtown revitalization and commercial investment. Of 607 eligible census tracts statewide this round, 153 were selected, about one in four.
(Source: The Richmonder)
Source: The Richmonder
Published by GSM · USA (original Chinese edition)
Photo: 图：弗吉尼亚州里士满市中心。图片来源：Wikimedia Commons，授权见图页。 / Photo: Downtown Richmond, Virginia. Source: Wikimedia Commons (license on file page).
