Richmond Gains 8 New Opportunity Zones; All 153 Virginia Zones Take Effect Jan. 1, 2027
RICHMOND, Virginia — Richmond will gain eight new federal Opportunity Zones, the designations announced November 7 show. The U.S. Treasury Department approved all 153 zones Virginia nominated on November 5, covering regions across the Commonwealth, 77 of them in rural areas; the new zones take effect January 1, 2027, and run 10 years, through December 31, 2036. Richmond's new zones include census tracts near Virginia Union University along Chamberlayne Avenue, the Gilpin Court public housing area, the arts district between East Broad and Canal streets and between Belvidere and North 5th streets. Investors in projects in these economically distressed areas qualify for tax incentives. Announcing the approvals on November 6, Gov. Abigail Spanberger said the designations will support new investment, create jobs and drive economic growth across the Commonwealth. The federal Opportunity Zone program first launched in 2018, when Richmond received 11 zones whose designations remain in place through the end of 2028. The state says the new zones will prioritize housing construction, downtown revitalization and business investment. Statewide, 153 of 607 eligible census tracts were selected, about one in four.
Source: Office of the Governor of Virginia; The Richmonder
Published by GSM · USA (original Chinese edition)
Photo: 图：弗吉尼亚州里士满市区。Wikimedia Commons，CC BY 2.0。 / Photo: Downtown Richmond, Virginia. Via Wikimedia Commons, CC BY 2.0.
