Gov. Pillen Announces 28 Census Tracts Approved in New Opportunity Zones Program

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Laura Strimple, (402) 580-9495

Gov. Pillen Announces 28 Census Tracts Approved in New Opportunity Zones Program

LINCOLN, NE - Today, Governor Jim Pillen announced that more than two dozen rural and urban Nebraska communities will reap the benefits of investment resulting from the new Federal Opportunity Zones Program. Twenty-eight census submitted this summer by the Governor been approved by the U.S. Treasury. They include areas in each of the state's three congressional districts.

"I'm proud to say that Nebraska was one of the first states to act and make nominations to this program," said Gov. Pillen. "These identified tracts are now poised to benefit from investment that will help spur housing, jobs and attract workforce talent. Nebraska is open for business. This is another tool that will provide our communities the support they need for continued growth."

Within Opportunity Zones, investments made through certified investment vehicles known as "Opportunity Funds" can be used to spur economic growth, for example, by supporting new businesses or workforce housing development. Investors in Opportunity Funds can benefit from tax incentives, such as deferrals on capital gains tax.

Approval of the 28 census tracts came under the second version of the Opportunity Zones Program (2.0). That version significantly upgrades benefits for rural areas through the creation of a Qualified Rural Opportunity Fund. This fund offers investors better tax incentives (a 30% basis step-up compared to 10% for standard funds). It also lowers investment hurdles by decreasing the substantial improvement threshold for rehab projects from 100% to 50%.

Following certification from the U.S. Treasury Department, the 28 nominated tracts will be designated as opportunity zones beginning January 1, 2027.

To learn more about Opportunity Zones in Nebraska, visit the Department of Economic Development's website.

Click here for a map of the 28 tracts that Governor Pillen nominated for designation as Opportunity Zones. They are also listed below.

Nebraska's Census Tracts Nominated for Designation as Opportunity Zones

Congressional District 1:

1. Bellevue - Census Tract 104.02
2. Columbus - Census Tract 9656
3. Fremont - Census Tract 9642
4. Lincoln - Census Tract 5
5. Lincoln - Census Tract 6
6. Lincoln - Census Tract 18
7. Lincoln - Census Tract 21
8. Lincoln - Census Tract 31.04
9. Norfolk - Census Tract 9607

Congressional District 2:

1. Omaha - Census Tract 8
2. Omaha - Census Tract 11
3. Omaha - Census Tract 12
4. Omaha - Census Tract 16
5. Omaha - Census Tract 27
6. Omaha - Census Tract 29
7. Omaha - Census Tract 34.01
8. Omaha - Census Tract 40
9. Omaha - Census Tract 42
10. Omaha - Census Tract 70.01

Congressional District 3:

1. Alliance - Census Tract 9513
2. Beatrice - Census Tract 9649
3. Crete - Census Tract 9606.02
4. Hastings - Census Tract 9660
5. Lexington - Census Tract 9685
6. McCook - Census Tract 9633
7. North Platte - Census Tract 9602
8. Ogallala - Census Tract 1
9. Scottsbluff - Census Tract 9537