Four Greensboro Areas Gain New Investment Opportunities

Four areas of Greensboro could see increased private investment, business development, and job opportunities following their designation as federal Opportunity Zones. The designations provide new incentives to encourage long-term investment, economic growth, and revitalization in communities across Greensboro.

The US Department of the Treasury announced the new designations on November 5, following nominations by Governor Josh Stein and subsequent federal certification. The newly designated Greensboro census tracts are:

• Tract 116.01, Coliseum Area: Includes the Greensboro Coliseum Complex and surrounding properties with potential for entertainment, hospitality, retail, and mixed-use development.
• Tract 128.04, South Greensboro: Encompasses portions of the Randleman Road corridor with opportunities for commercial reinvestment, housing, and business development.
• Tract 153.02, Eastern Greensboro: Includes the McConnell Road industrial corridor, where available development sites and infrastructure investments support opportunities for industrial expansion and job creation.
• Tract 168, Southeast Greensboro: Includes portions of the Highway 421 corridor within and near Greensboro, extending into the Town of Pleasant Garden and unincorporated Guilford County. The designation provides opportunities for future private investment in areas that include both existing and potential future Greensboro city limits.

"These designations provide another tool to attract investment to areas of Greensboro with significant potential for business growth and redevelopment," said Economic Development Director Marshall Yandle. "Our role is to help connect investors, developers, and property owners with the information and resources needed to turn that potential into new economic activity."

Opportunity Zones are federally designated census tracts where qualifying investments may receive favorable federal tax treatment through Qualified Opportunity Funds. The program is designed to encourage long-term private investment in economically distressed communities.

The new designations take effect January 1, 2027, and remain in effect through December 31, 2036.

Greensboro's original 10 Opportunity Zones were designated in 2018. Those designations remain in effect through December 31, 2028.

Maps and additional information are available at www.greensboro-nc.gov/opportunityzones.

The City of Greensboro's Office of Economic Development provides complementary support to citywide and regional economic development efforts and to the entrepreneurial ecosystem of Greensboro through individualized constituent services and specialized programs. For more information, visit www.SelectGreensboro.com.