Opportunity Zones
Opportunity Zones 2.0 in Wyoming
Wyoming is preparing for the next round of Opportunity Zone designations and helping communities, project sponsors, and investors understand how the program can support housing, business growth, redevelopment, and long-term local investment.
Opportunity Zones are a federal incentive designed to encourage long-term private investment in designated communities. As the next designation cycle approaches, Wyoming is working to provide clear information, practical tools, and useful resources for communities and partners across the state.
Find Your Regional Director for Help Navigating Opportunity Zones
What’s happening now?
Opportunity Zones 2.0 will begin a new designation cycle in 2026, with new designations taking effect on January 1, 2027. Wyoming is preparing now so communities, local leaders, project sponsors, and investors can better understand the process and identify opportunities early.
At this stage, federal guidance is still evolving. Preliminary eligibility maps and industry tools can help inform planning, but they should not be treated as final designations until Treasury releases official guidance.
Wyoming’s goal is to approach this process with clarity, practicality, and a focus on how Opportunity Zones can support real projects and long-term community value.
CURRENT PRIORITIES:
- Track federal guidance and timeline updates
- Help communities understand likely OZ 2.0 eligibility
- Identify investable projects and redevelopment opportunities
- Connect local partners to technical assistance and resources
Why Invest In An Opportunity Zone?
Any taxpayer can defer capital gains taxes by reinvesting those gains in a qualified opportunity fund.
A qualified opportunity fund is any investment vehicle that holds at least 90 percent of its assets in qualified opportunity zone investments, including:
- Property (e.g. real estate, equipment, infrastructure) within an opportunity zone
- Stock or equity in a trade or business whose owned or leased property is in a qualified opportunity zone
Through a series of basis increases, capital gains taxes are decreased through time as the investment is held in the fund. If the investment is held in a qualified opportunity fund for 10 years, the basis of the investment is equal to the fair market value of the investment.
- Directory of Opportunity Zone Funds
- Opportunity Zone Fact Sheet
- Federal Opportunity Zone page
- IRS Form 8996
Opportunity Zones: A Diverse Portfolio of Opportunities
The tracts nominated in Wyoming offer tremendous opportunities for investors and communities.
A range of investment opportunities
- Businesses – startups, expansion, and recruitment
- Real estate
- Infrastructure
- Research
Geographic diversity
- Cities, towns, and rural areas
- Statewide distribution
How does the federal OZ incentive work?
Investors can reinvest eligible capital gains into a Qualified Opportunity Fund that invests in designated Opportunity Zones. The federal incentive is built around long-term investment, including deferral of the original gain and potential exclusion of new gains if the investment is held long enough.
What is changing in OZ 2.0?
OZ 2.0 creates a new 10-year designation cycle, tightens tract eligibility, eliminates contiguous tract nominations, adds stronger reporting, and creates enhanced incentives for some rural investments.
What makes a project a good fit for OZ investment?
The strongest OZ projects usually combine long-term investment potential with real local readiness. Designation alone is not enough. Good fits often include housing, redevelopment, business expansion, and projects with clear site conditions, partners, and a path to execution.
How is OZ different from other community development tools?
Opportunity Zones are a federal tax incentive, not a grant. They are designed to attract private capital into designated areas, which means they often work best when combined with other development tools, local planning, and project support.