A Qualified Opportunity Zone (QOZ) is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as QOZs if they were nominated for that designation by a state, the District of Columbia, or a U.S. territory and that nomination was certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service (IRS).
QOZs are an economic development tool—that is, they are designed to spur economic development and job creation in distressed communities.
See an interactive map of Hanford's opportunity zones.
IRS-Opportunity Zones
State of CA Department of Finance-Opportunity Zones