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Beaufort County committee submits two tracts for Opportunity Zone 2.0 consideration
Summary
The advisory committee recommended two Beaufort County census tracts for nomination to the Opportunity Zone 2.0 program and noted the U.S. Department of the Treasury will announce final designations later this fall; new zones would take effect Jan. 1, 2027.
Susan Squires, delivering the economic development update to the Beaufort County Economic Development Advisory Committee on July 23, said the committee recommended two county census tracts for nomination under the Opportunity Zone 2.0 program. In the meeting packet, Squires said, was the nomination email sent to the State and a letter of support from Senator Bob Brinson.
Squires told members the U.S. Department of the Treasury will announce final designations later this fall, and that the newly designated Opportunity Zones would become effective on Jan. 1, 2027. "We are hopeful that our submissions make the cut!" Squires said during the update. The committee’s recommendation is an advisory action; final designation rests with the Treasury, and any resulting incentives or investments will depend on that federal decision.
Committee members asked questions about next steps and timing. The committee packet includes the nomination materials and the letter of support; staff asked members to track the Treasury announcement this fall. The committee did not take a formal, binding vote on zoning or incentives at the July 23 meeting, and staff said further outreach and monitoring will follow pending the federal decision.
