FOR IMMEDIATE RELEASE:
August 25, 2026
CONTACT: Gov.Press@illinois.gov
CHICAGO – Governor JB Pritzker and the Illinois Department of Commerce and Economic Opportunity (DCEO) have launched Illinois’ Opportunity Zones 2.0, a statewide initiative aimed at nominating the next group of federally designated Opportunity Zones to attract private investment in communities across Illinois. Such designations encourage private investment that promotes job creation and economic growth in low-income areas.
“Opportunity Zones are a powerful and effective tool for driving investment in communities that are too often overlooked,” said Governor JB Pritzker. “With the launch of Opportunity Zones 2.0, we’re modernizing the program to unlock more investment and ensure every Illinois community, especially rural areas, benefits from new growth.”
Lieutenant Governor Juliana Stratton added, “As Chairperson for the Governor’s Rural Affairs Council, I’ve witnessed the significant impact of these investments. New incentives for rural areas will not only attract businesses but help entire communities thrive.”
The Opportunity Zones 2.0 program modernizes the previous initiative, including new reporting requirements and additional incentives for qualifying Rural Opportunity Zones.
“By combining a data-driven approach with community engagement, we’re equipping Illinois to support business growth, create jobs, and strengthen regional economies,” said DCEO Director Kristin Richards.
Illinois Economic Development Corporation President and CEO Christy George emphasized the importance of this program in attracting private investment for job creation across the state.
Following recent federal legislation that reauthorized and modernized the Opportunity Zone program, Governor Pritzker will nominate new qualifying census tracts starting in 2027. Engaging local stakeholders, DCEO aims to leverage a data-driven, locally informed process for effective long-term economic growth.
Mark Denzler, president & CEO of the Illinois Manufacturers’ Association, highlighted the collaborative efforts with the Governor’s Office to utilize this program to unlock private capital for economically distressed areas.
Chicagoland Chamber of Commerce President and CEO Jack Lavin stated, “Opportunity Zones can attract investment and drive economic growth in neighborhoods across Illinois. We look forward to working with the State to leverage these tools effectively.”
Illinois’ Opportunity Zones 2.0 framework builds on previous designations by focusing on economic need, market readiness, community priorities, and alignment with broader state strategies. Factors considered for future designations include investment potential and regional balance.
The State will submit 238 qualifying census tracts to the U.S. Department of the Treasury by the end of September. For more information, visit the DCEO website.
