Irvine Business Complex Secures Federal Opportunity Zone Designation, Effective 2027 for 10 Years
The City of Irvine, in Orange County, California, announced that a portion of the Irvine Business Complex (IBC) has received federal designation under the Opportunity Zone Program, creating new opportunities to attract long-term private investment to one of Orange County's largest employment centers.
The designated area is Census Tract 06059075516. The designation follows the U.S. Department of the Treasury's certification of 620 California census tracts nominated by Governor Gavin Newsom, from 1,232 tract recommendations submitted by local authorities across the state. The new designations take effect January 1, 2027, and remain in place for 10 years.
The federal Opportunity Zone Program offers tax incentives for qualifying investments in designated census tracts, intended to encourage long-term private investment that supports economic growth, job creation and community revitalization. Within the designated portion of the IBC, qualifying investments could support industrial modernization, redevelopment, business expansion and additional housing near jobs. The area sits close to John Wayne Airport and regional freeways, alongside city investments in transportation infrastructure and accessibility improvements.
"This designation strengthens Irvine's ability to attract long-term private investment in the Irvine Business Complex," said Karin Koch, the city's Director of Economic Development. Irvine had recommended four eligible census tracts through California's Opportunity Zones 2.0 selection process, and the IBC tract was selected.
Source: City of Irvine
Published by GSM · USA (original Chinese edition)
Photo: 图：Irvine 商务综合区（Irvine Business Complex）街景（CC BY 4.0，经 Wikimedia Commons）。 / Photo: The Irvine Business Complex (CC BY 4.0, via Wikimedia Commons).
