2026-06-11

Briana Cooper

Economic Development Programs

On June 10, 2026, Ohio’s General Assembly passed Ohio’s new Opportunity Zone Statute that our firm drafted.  On June 12, 2026, that new law was sent to Governor DeWine for signature. Here’s what the new Ohio Opportunity Zone Statute means for Ohio’s Opportunity Zone Program and the developers that use it:

 

  • Provides clarity for Opportunity Zone developers and investors on what needs to be done, and by when, to remain eligible to apply for Ohio Opportunity Zone Tax Credit Certificates during the transition between Opportunity Zones 1.0 to 2.0, as well as after Opportunity Zones 2.0 becomes fully effective on January 1, 2027.
  • Enables affordable housing projects to utilize the Ohio Opportunity Zone Program, taking into account investment milestones that exist on affordable housing projects, putting those developments in no better position and no worse position than any other development projects.
  • Defines a “Project” as a Qualified Opportunity Zone Business regardless of the number of assets held or the number of activities conducted. Now that there is a $5 million Ohio OZ tax credit certificate limit per Project, the new definition of “Project” helps determine how the new $5 million per “Project” limit will be applied.
  • Shortens the application windows from 7 days to 2 days. Almost all applications are submitted on the first day that the application portal is open, the vast majority of which are submitted within minutes of the portal opening. Shortening the application round to 2 days is still plenty of time to submit applications, and it will allow the applications to be processed sooner.

 

Developers and cities across Ohio are currently advocating for eligible census tracts to be included in the Opportunity Zone 2.0 recommendations that Governor DeWine will make to the U.S. Treasury. The portal for recommendations opened on June 10, 2026, and it closes on July 10, 2026.  There is still time to advocate in collaboration with local leaders for a project census tract to obtain Opportunity Zone 2.0 designation.  Let us know if you’d like our help with that process.  Those designations remain in effect for 10 years – until December 31, 2036.