Missouri – Missouri has received federal approval for all 131 census tracts it nominated as Opportunity Zones, giving communities across the state a new opening to attract long-term private investment. Every available nomination slot was used, and every proposed tract made the cut.
The designations begin January 1, 2027, and last for 10 years. For the communities included, that creates a decade-long window to draw qualifying investment toward business growth and local economic priorities.
Governor Mike Kehoe and the Missouri Department of Economic Development announced that the U.S. Department of the Treasury approved the full slate under the federal Opportunity Zones 2.0 program.
The effort uses federal tax incentives to encourage investment in economically distressed communities through Qualified Opportunity Funds.
“Missouri’s Opportunity Zones will help attract investment that strengthens communities, creates jobs, and supports lasting economic growth,” said Governor Kehoe.
“By working with local partners, we’re positioning our state to turn these designations into opportunities for Missourians and build on our commitment to making Missouri the best place to live, work, and do business.”
The number of nominations was limited by federal rules. Each state could submit up to 25 percent of its eligible census tracts for consideration. Missouri’s full allotment was 131, and the state nominated that entire amount.
Choosing those tracts involved input from local partners. DED gathered planning details and information showing both community interest in the program and the potential to put an Opportunity Zone designation to use.
That local planning helped shape the state’s submission. Partners identified needs and opportunities in their communities, giving DED information to consider as it selected the nominated areas. Their contributions also helped identify where private investment could support priorities already established locally.
“Our local partners know their communities’ needs and opportunities best, and their input was essential to this process,” said Michelle Hataway, Director of the Department of Economic Development.
“We appreciate their collaboration and thoughtful planning as we work together to attract investment, strengthen local economies, and help Missourians prosper.”
With federal approval secured, the state’s stated goal is to turn the designations into lasting economic activity. Officials see the program as a tool for supporting businesses, creating jobs and expanding opportunity in the selected communities.
The investment mechanism centers on Qualified Opportunity Funds. Qualifying investments made through those funds can receive federal tax incentives, encouraging private capital to flow into economically distressed areas. Missouri’s newly approved designations establish the selected tracts for the coming 10-year period.
The announcement brings the nomination and approval process to a clear milestone: all 131 proposed tracts have been accepted. The next chapter begins in January, when the designations take effect and communities can begin using them to help attract investment aligned with their plans.
More information about the program is available on DED’s Opportunity Zones webpage.
