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SCAM ALERT: DCEO has been made aware of organizations receiving fraudulent “notice of award” letters claiming to be from the Illinois Department of Commerce and Economic Opportunity. These are not legitimate notices from DCEO. If your organization receives a notice, please report it to the Federal Trade Commission and/or the FBI’s Internet Crime Complaint Center.

Illinois Opportunity Zones

Background

The federal Qualified Opportunity Zone program provides an incentive for investors to invest in designated lower-income communities to help create jobs and spur economic development in areas that need it the most. The program does this by providing significant tax benefits over time to investors that utilize a Qualified Opportunity Fund to reinvest their capital gains into projects within Opportunity Zones.

In July 2025, the federal government adjusted and made permanent the Opportunity Zone program. More information on the changes can be found on the IRS website. These changes required the State of Illinois to nominate new Opportunity Zones for federal designation, with the new designations taking effect in January 2027.

The State of Illinois has completed its comprehensive Opportunity Zone 2.0 selection process and the U.S. Department of the Treasury has approved nominations. The updated map of Illinois’ Opportunity Zone 2.0 census tracts is available below.

For reference, the prior Opportunity Zone 1.0 map also remains available linked here. These census tracts are available for Opportunity Zone investment and 1.0 benefits through the end of 2028.

More information on the State of Illinois’ Opportunity Zone designation process and this federal tax incentive can also be found through the FAQ resource provided here.

Additional information, guidance, and resources specific to Illinois’ Opportunity Zones 2.0 will continue to be shared on this webpage.