Coming Soon: Opportunity Zone 2.0

Ohio Opportunity Zones The Ohio Department of Development recently issued new program guidelines for the Ohio Opportunity Zone Program, which apply to upcoming July 2026 OZ applications for investments made between January 1, 2026 through June 30, 2026. We played a significant role in tailoring the new guidelines to the most recent amendment of the Ohio OZ statute, which our firm drafted and advocated to Ohio’s General Assembly for successful passage.   The new Ohio OZ program guidelines focus on investments that are used to pay for improvements made to property in Opportunity Zones. They also address the additional supporting documentation that will now be required to be submitted with Ohio OZ applications. Read the new Ohio OZ program guidelines here.   Let us know if we can help you with your Ohio OZ applications. We know this subject matter better than anyone else. Ensuring that any investments that you make are eligible and properly documented is critical to successful applications.   Federal Opportunity Zones 2.0 Ohio will soon issue state selection standards for the designation of new Opportunity Zones under the Federal OZ 2.0. NAIOP of Ohio played a key role in making recommendations to the state about the manner in which future Federal OZ 2.0 designations should be made. Mike Sikora and Rick Craven are two of three people selected to prepare the NAIOP recommendations, given their familiarity and active involvement in shaping and continually improving Ohio’s OZ Program.   Meanwhile, advocacy efforts by developers are now well underway with leadership of local communities to have certain project areas designated as Opportunity Zones. We believe Ohio will prioritize areas where projects of significance are actively being pursued.   Governor DeWine is permitted to recommend designations to Treasury as early as July 1, 2026. We anticipate the governor will make recommendations early in the process, so that Ohio’s Opportunity Zones will be established soon in comparison to other states, and so that commercial real estate developers and investors can plan accordingly. Let us know if you need assistance determining whether your project is located in an eligible area, or if you need help developing a strategy to obtain OZ 2.0 designation status. See a map of eligible areas under Federal OZ 2.0 here.