Get alerts
Irwin Union Bank, a low glass pavilion by Eero Saarinen on Washington Street, Columbus, Indiana
Irwin Union Bank (Eero Saarinen, 1954) · Photo: Carol M. Highsmith / Library of Congress, Public domain · file page
OZ 2.0 tract nominated · pending Treasury certification · effective Jan 1, 20271,2
City profile · Bartholomew County, Indiana

Columbus, Indiana

A Fortune 500 headquarters town with a world-famous modernist downtown and a documented housing shortage. Its downtown tract is nominated for Opportunity Zone 2.0.

See the Opportunity Zone tract → Talk to the city
52,655Population, 2025 est. (+4.2% since 2020)3PEP V2025 (July 1, 2025 estimate)
$77,456Median household income (IN $71,957)3ACS 2020–2024 5-year
40.0%Adults with bachelor's+ (IN 29.5%)3ACS 2020–2024 5-year
~13,000Jobs downtown, 29.2% of city jobs4
~300/yrNew homes needed through 20355
1919Cummins founded here; still HQ6
Why Columbus

The case in 60 seconds

  1. A global company's hometown. Cummins was founded in Columbus in 1919 and is still headquartered at 500 Jackson Street downtown. It reported $33.7B in 2025 revenue and employs about 70,000 people worldwide, roughly 8,000 of them in the region.6,7,8
  2. Jobs are downtown, homes aren't yet. Downtown holds about 13,000 jobs but only 951 residents and 420 housing units. The city's 2024 housing study found demand for about 300 new units a year through 2035.4,5
  3. Growing, educated, international. Population rose from 44,061 (2010) to 50,474 (2020) to an estimated 52,655 (2025). 40.0% of adults hold a bachelor's degree and 15.9% of residents are foreign-born, about 2.5x the Indiana share.3
  4. A plan, a team and live sites. The Columbus Downtown 2030 Strategic Plan was completed in September 2025 with 60+ recommendations. In 2026 the city ran an RFQ for a lead developer on the "Finish Fourth" district and an RFI for other downtown sites.9,10
  5. On I-65 between three air-freight hubs. Columbus is about 45 miles south of Indianapolis and 70 miles north of Louisville. It sits within 45–90 minutes of FedEx's IND hub, UPS's SDF hub and DHL's CVG hub.11,12
History

The small city that hired the world's best architects

Columbus became an industrial town when Cummins Engine Company was founded there in 1919 as one of the first diesel engine manufacturers.6

J. Irwin Miller ran Cummins as president (1947–1951) and chairman (1951–1977). He bet that great design would attract and keep great people. In 1954 he set up the Cummins Foundation program that pays architects' fees for new public buildings in Columbus, as long as the architect comes from a Foundation-approved list.13

First Christian Church, a brick church with a tall rectangular bell tower, Columbus, Indiana
First Christian Church, Eliel Saarinen, 1942 · Photo: Tom Brandt, CC BY 2.0 · file page
Robert N. Stewart Bridge, a red cable-stayed bridge on the approach into downtown Columbus, Indiana
Robert N. Stewart Bridge · Photo: Carol M. Highsmith / Library of Congress, Public domain · file page

The result is more than 60 buildings by renowned architects. Seven are National Historic Landmarks, among them Eliel Saarinen's First Christian Church (1942), Eero Saarinen's Irwin Union Bank (1954) and Miller House (1957), and Myron Goldsmith's Republic building (1971).13,14

In a 1991 American Institute of Architects survey, Columbus ranked sixth among U.S. cities for architectural quality and innovation, behind only Chicago, New York, San Francisco, Boston and Washington, D.C.15

The Republic building now houses Indiana University's J. Irwin Miller Architecture Program.16

For investors, the legacy is practical as well as cultural. Columbus has a long civic habit of public-private partnership and design-led development. The 2026 downtown RFQ shipped with a "CCF Approved List of Nationally Renowned Architects".10

Economy

Who's here

Greater Columbus Indiana EDC lists the county's top employers as:17

Top employers in Bartholomew County
EmployerSectorLocal operationsHome country
Cummins Inc.Engines and power generationGlobal HQ, engineering, productionUSA
Bartholomew Consolidated School Corp.EducationK-12USA
Toyota Material HandlingForkliftsNorth American HQ, R&D, productionJapan
Columbus Regional HealthHealthcareHospital and health servicesUSA
NTN DriveshaftAutomotive driveshaftsProductionJapan
Forvia / FaureciaAutomotive emissions controlsNorth American R&D, productionFrance
Dorel Juvenile GroupChild safety productsNorth American R&D, productionCanada
Enkei AmericaAutomotive wheelsNorth American R&D, productionJapan

The full top-20 list is at the EDC. A cross-check with Indiana DWD's Data Axle-based list shows the same core names.17,18

2024 · expansion

Toyota: nearly $100M electric-forklift plant

Broke ground in May 2024: 295,000 sq ft, Toyota's 15th-plus Columbus expansion, more than $400M invested since 1990, campus of nearly 1.8M sq ft.19

Global base

30+ international companies

Together they employ about 9,000 people in Bartholomew County. Motor vehicle parts manufacturing employment runs 23.32x the U.S. average (JobsEQ, per the EDC).8,17

People & growth

Columbus vs. Indiana

Columbus compared with Indiana
MetricColumbusIndianaVintage
Population, 2010 Census44,0616,483,8022010 and 2020 Census
Population, 2020 Census50,4746,785,5282010 and 2020 Census
Population, July 1, 2025 est.52,6556,973,333PEP V2025 (July 1, 2025 estimate)
Change since 2020+4.2%+2.8%PEP V2025 (July 1, 2025 estimate)
Median household income$77,456$71,957ACS 2020–2024 5-year
Per-capita income$43,783$38,351ACS 2020–2024 5-year
Bachelor's or higher, age 25+40.0%29.5%ACS 2020–2024 5-year
Foreign-born15.9%6.3%ACS 2020–2024 5-year
Median home value (owner-occupied)$244,200$218,200ACS 2020–2024 5-year
Median gross rent$1,157$1,062ACS 2020–2024 5-year
Owner-occupied rate60.8%70.6%ACS 2020–2024 5-year
Mean commute19.4 min24.1 minACS 2020–2024 5-year
Persons in poverty11.3%12.2%ACS 2020–2024 5-year

U.S. Census Bureau: ACS 2020–2024 5-year (income, education, housing, commute, poverty), PEP V2025 (July 1, 2025 estimate), 2010 and 2020 Census; pulled from the Census API at build time.3QuickFacts 'Persons in poverty' for Indiana (12.2%) differs from the ACS 5-year B17001 ratio; the cited QuickFacts figure is shown.

The 2024 housing study projects about 6,600 more residents and roughly 4,000 more jobs by 2035.4

Schools

92.41% graduation rate

BCSC (11,400+ students) graduated its Class of 2025 at 92.41%, the highest in district history and above the state's 91.8%. BCSC says the rate is up more than 11 points over four years.20,21

Safety

Violent crime down 16%

The Columbus Police Department's 2025 Annual Report shows an 18% drop in property crime and a 16% drop in violent crime from 2024 to 2025, and property crime reports down almost 50% over five years.22

Talent

Three colleges, one campus

Ivy Tech Columbus, IU Columbus and Purdue Polytechnic share the AirPark Columbus campus; Ivy Tech's Green2Gold pathway leads to Purdue engineering degrees.23

Quality of life

23 miles of People Trails

23 city parks and nearly 1,000 acres, including the 32-acre Mill Race Park on the Flatrock River at the edge of downtown.24

What's happening now

Columbus Downtown 2030

The Columbus Downtown 2030 Strategic Plan was prepared by Sasaki, SB Friedman and Storyboard. It aims to make downtown more residential, walkable and active along the 4th, 5th and Washington Street corridors, with better links to Mill Race Park and the river. The city says 37 projects are in progress.4,10,9

Washington Street in downtown Columbus, Indiana, seen from The Commons
Washington Street from The Commons · Photo: Jeff Hart, CC BY 2.0 · file page
Mill Race Park on the Flatrock River at the edge of downtown Columbus, Indiana
Mill Race Park · Photo: Jeff Hitchcock, CC BY 2.0 · file page
RFQ · lead developer

Finish Fourth

Former Sears building and lot at 4th & Brown: hotel and conference center, mixed-use, event plaza, market hall. Responses to the lead-developer RFQ came from 1820 Ventures, Flaherty & Collins, and Build BW & Browning Day; selection expected later in 2026.10

In its nomination, the city describes two sites: the 3.75-acre Sears Parking Lot, where the main concept is a 200-key mid-tier hotel, a 50,000 SF conference center and a 270-space parking structure, and the 2.3-acre Sears Building site, the last remaining portion of the 1973 Commons, planned for restaurants, bars and entertainment while keeping or expanding YES Cinema.25

RFI

Water Street site, 18.8 acres

Riverfront entertainment and a possible new residential neighborhood.10

RFI

3rd & Lafayette, 2.25 acres

Targeted for multifamily with possible retail.10

Pipeline

+170 downtown units

Two mixed-use buildings at 6th & Washington and 11th & Washington, adding about 170 units, +40% downtown housing.4

Already under way

  • Ten20 North (11th & Washington, Rubicon Development Group): 120 apartments, 10% of them workforce housing at a 20% rent reduction, plus a 143-space garage and 5,300 sq ft of ground-floor commercial and common space.
  • Taylor Uptown (6th & Washington, Flaherty & Collins): 52 one- and two-bedroom apartments over 10,000 SF of ground-floor commercial space.
  • Our Riverfront: repair of the East Fork of the White River between the 2nd and 3rd Street bridges, due to finish in October 2026.
  • Crump Theatre: restoration of what is believed to be Indiana's oldest remaining theatre into a 750 to 1,000 capacity venue, backed by $6.1 million in READI 2.0 Arts & Culture funding.

Source: City of Columbus, OZ 2.0 nomination to the State of Indiana (2026).25

Momentum: from 2012 to 2022, downtown added 3,310 jobs while the rest of Columbus added 400.4

Housing demand

The gap investors can fill

~300/yrnew units needed through 2035 (vs ~260/yr built over the past decade)5
3,740additional homes needed by 2035 (about 2,200 owner, 1,540 rental)4
940+multifamily units needed by 2035; new units "quickly absorbed"4

Columbus has the jobs, the employers and a plan. What it lacks is enough places to live, especially downtown. Downtown is exactly where the Opportunity Zone tract sits.

From demand to deal →
The Opportunity Zone

Tract 101: Downtown Columbus

GEOID 18005010100 · nominated by Indiana on Sep 25, 2026 · pending Treasury certification · non-rural (10% step-up) · in a 2018 OZ: no1,2

Tract 101 outline · open the interactive OZ map →
5,510Population
$56,646Median HH income
$111,400Median home value
23.8%Poverty rate

Poverty rate: Treasury's Sep 2026 eligibility data (ACS 2020–2024 5-year). Other figures: ACS 2022 5-year, as loaded with the Rev. Proc. 2026-14 list.2

Inside the tract:26

  • Cummins Inc. global headquarters, 500 Jackson St
  • Columbus City Hall, 123 Washington St
  • The Commons, 300 Washington St
  • Three National Historic Landmarks: First Christian Church (531 Fifth St), Irwin Union Bank / Irwin Conference Center (500 Washington St) and The Republic / IU J. Irwin Miller Architecture Program (333 Second St)
  • Columbus Area Visitors Center, 506 Fifth St
  • Addresses on the Finish Fourth blocks (401 Fourth St), the Water Street corridor (450 Water St), 3rd St (450 Third St) and the Washington St pipeline (600 and 1100 Washington St)

Street addresses checked with the U.S. Census Geocoder. Parcel-level boundaries for each Downtown 2030 site are not yet confirmed with city GIS.

Tract details → · Open on the OZ map → · All eligible tracts in Indiana →

Why Census Tract 101

In its nomination to Indiana, the City of Columbus calls Tract 101 the heart of Downtown Columbus. It holds the city's civic, cultural and business core: Cummins Inc.'s global headquarters, Toyota Industrial North America, The Commons, the 32-acre Mill Race Park, City Hall and several publicly controlled redevelopment sites.

The city is open about the challenges. Office activity has dropped since the pandemic. An inventory by the Office of Downtown Development found one condemned, two semi-unfinished, two vacant and ten unfinished spaces downtown. A 2018 fire badly damaged the historic Irwin Block, and a planned downtown grocer at 2nd and Jackson was shelved.

The city also says it is "investment ready." The Columbus Downtown 2030 Strategic Plan, completed in 2025, identifies development-ready sites. In June 2026 the city issued an RFQ for a lead "Finish 4th Street" developer and, with the Columbus Capital Foundation, an RFI for more sites. The city says zoning, planning and community engagement are already in place.

The nomination was filed jointly by the city, Bartholomew County, the Greater Columbus EDC, Cummins Inc., local developers and investors, and community partners.

Source: City of Columbus, OZ 2.0 nomination to the State of Indiana (2026).25

459Multifamily units the city estimates could be built in the tract over the 10-year designation period
~900Ongoing jobs the city estimates from new downtown investment
1,444Construction-period jobs (direct, indirect and induced), per the city's JobsEQ modeling
$366MTotal economic activity the city projects from the catalytic projects

Estimates from the City of Columbus's OZ 2.0 nomination to Indiana. Projections, not guarantees.

What can be built

From demand to deal

Downtown multifamily & mixed-use

940+ multifamily units needed by 2035; new units absorbed quickly; 951 downtown residents vs. 13,000 downtown jobs.4

Hotel & conference

A city-studied downtown conference hotel, part of Finish Fourth.4,10

Adaptive reuse of design-significant buildings

Former Sears building and the Irwin Block; the RFI calls for "high-design architecture".10

Operating businesses (QOZB)

Engineering and manufacturing supply-chain depth, with Cummins and Toyota R&D nearby.17,8

Illustrative OZ-eligible strategies, each matched to a documented local need. None of them is a recommendation.

OZ 2.0 in plain English

Defer. Reduce. Eliminate.

Defer

Roll a capital gain into a Qualified Opportunity Fund within 180 days and defer the federal tax for 5 years.

Reduce

Hold 5 years and get a 10% basis step-up. Tract 101 is non-rural; rural funds get 30%.

Eliminate

Hold 10 years and pay zero federal tax on the investment's appreciation.

Model your tax savings → · OZ 2.0 investor timeline · OZ real estate investing

Timeline

From nomination to the 10-year exclusion

  1. Sep 25, 2026Indiana nominates 126 tracts, including tract 1011
  2. By Nov 27, 2026End of Treasury's consideration period (extendable to Dec 28, 2026)1
  3. Jan 1, 2027Certified OZ 2.0 zones take effect1
  4. Jan 1, 2032+First 5-year step-up for investments made in early 2027
  5. Jan 1, 2037+First 10-year exclusion for investments made in early 2027

Indiana OZ 2.0 status →

Investor toolkit

Your 180-day deadline

Open 180-day calculator →

Counts the sale date as day 1, like our full tool. K-1, installment and REIT gains can start later. Not tax advice.

Model your tax savings

OZ 2.0 vs pay-now vs 1031, with state tax.

Open calculator →
Check an address / tract → OZ 2.0 likelihood checker → Form 8996 helper → Form 8997 helper → All OZ tools →
Incentive stack

Layers on top of OZ

Incentives that can stack with OZ 2.0 in Columbus
ProgramAdministered byWhat it does
OZ 2.0U.S. Treasury / IRSDeferral, 10% step-up (30% rural), 10-year exclusion1
Tax abatementCity of Columbus (Community Development; Council approval)10-year abatements on real property improvements and personal property; the downtown EDTA currently gets 6-year abatements. Multifamily with enough low-to-moderate-income units is eligible. Apply before construction.27
Tax increment financingColumbus Redevelopment CommissionCaptures incremental commercial/industrial property tax for 25 years from first obligation to fund projects.28
READI (regional)IEDC / South Central Indiana Talent RegionState quality-of-place grants. The region won $30M in READI 2.0 (Apr 2024); READI funds are already in the riverfront project.29,4
Funds

Funds investing in Indiana

Raising

Invst Opportunity Zone Fund I

Invst Ventures, LLC · Indianapolis, IN · Form D 2026-01-05

 Fully raised

Milhaus QOZF Rockies

Milhaus · Indianapolis, IN · Form D 2026-08-14

 Fully raised

Milhaus QOZF Silverheels

Milhaus · Indianapolis, IN · Form D 2026-08-14

 Fully raised

Browning QOZ Fund

Browning Investments · Indianapolis, IN · Form D 2026-07-01

 Fully raised

BI QOF

Browning Investments · Indianapolis, IN · Form D 2026-06-30

 Fully raised

HH Bronzeville Investors QOF

Plainfield Senior Living, LLC · Indianapolis, IN · Form D 2026-05-21

No fund has publicly announced a Columbus-specific OZ 2.0 project yet. These funds list an Indiana address in their SEC Form D filings.

Browse all funds investing in Indiana →

Talk to the city

City officials: contact us

We're confirming the right city contact for investor questions. In the meantime, reach the Greater Columbus Indiana EDC: info@columbusin.org, +1 812-378-730017.

Columbus Opportunity Zone FAQ

Is downtown Columbus an Opportunity Zone?

Downtown tract 18005010100 was nominated by Indiana on Sep 25, 2026. It becomes an Opportunity Zone only if Treasury certifies it, and zones take effect Jan 1, 2027.

Is it a rural tract?

No. The standard 10% five-year step-up applies.

What is Columbus known for?

Cummins' global headquarters since 1919, and modernist architecture: a 1991 AIA survey ranked it sixth nationally, and it has seven National Historic Landmarks.

How far is Columbus from Indianapolis?

About 45 miles, via I-65.

Is there housing demand?

The city's 2024 housing study found a need for about 300 new units a year through 2035.

Who do I contact at the city?

See "Talk to the city" above.

Sources

  1. 1. Indiana Opportunity Zones 2.0, Opportunity Zone Invest: https://opportunityzoneinvest.com/zones/indiana/ (accessed 2026-10-15)
  2. 2. Census tract 18005010100 (OZ status and ACS profile), Opportunity Zone Invest: https://opportunityzoneinvest.com/zones/indiana/tract/18005010100/ (accessed 2026-10-15)
  3. 3. QuickFacts, Columbus city, Indiana (PEP V2025; ACS 2020–2024 5-year; 2010/2020 Census), U.S. Census Bureau: https://www.census.gov/quickfacts/fact/table/columbuscityindiana,IN/PST045224 (accessed 2026-10-15)
  4. 4. Columbus Downtown 2030 Strategic Plan, final report (Sasaki / SB Friedman / Storyboard, Sep 2025), City of Columbus: https://www.columbus.in.gov/wp-content/uploads/2025/10/Printable-Final-Report-s.pdf (accessed 2026-10-15)
  5. 5. City formally releases results of housing study (Sep 26, 2024), The Republic: https://www.therepublic.com/2024/09/26/city-formally-releases-results-of-housing-study/ (accessed 2026-10-15)
  6. 6. Cummins Inc. Form 10-K for FY2025, Cummins Inc.: https://investor.cummins.com/sec-filings/annual-reports/content/0000026172-26-000009/cmi-20251231.htm (accessed 2026-10-15)
  7. 7. Cummins Investor Relations (FY2025 revenue $33.7B; ~70,000 employees), Cummins Inc.: https://investor.cummins.com/ (accessed 2026-10-15)
  8. 8. Next Gen Mobility, Greater Columbus Indiana EDC: https://www.columbusin.org/industry-targets/next-gen-mobility-2/ (accessed 2026-10-15)
  9. 9. Sipe, Boatwright Present Update to Rotary, City of Columbus: https://www.columbus.in.gov/portfolio-items/sipe-boatwright-present-update-to-rotary/ (accessed 2026-10-15)
  10. 10. City of Columbus Launches Dual Effort to Advance Transformational Downtown Development (RFQ/RFI), City of Columbus: https://www.columbus.in.gov/city-of-columbus-launches-dual-effort-to-advance-transformational-downtown-development/ (accessed 2026-10-15)
  11. 11. Getting to Columbus, Visit Columbus Indiana: https://visitcolumbusindiana.com/about-columbus/getting-to-columbus/ (accessed 2026-10-15)
  12. 12. Location & Logistics, Greater Columbus Indiana EDC: https://www.columbusin.org/advantages/location-logistics/ (accessed 2026-10-15)
  13. 13. Good Towns: Columbus, Indiana (2018), IU J. Irwin Miller Architecture Program: https://architecture.indiana.edu/news-events/march-news/2018/2018-11-06-regions-good-town-architecture.html (accessed 2026-10-15)
  14. 14. National Historic Landmarks, Visit Columbus Indiana: https://visitcolumbusindiana.com/architecture/national-historic-landmarks/ (accessed 2026-10-15)
  15. 15. Modernism in Bartholomew County, Indiana, From 1942 (NHL study), National Park Service: https://www.npshistory.com/publications/nhl/special-studies/modernism-bartholomew-in.pdf (accessed 2026-10-15)
  16. 16. Learning Spaces (Republic building), IU J. Irwin Miller Architecture Program: https://architecture.indiana.edu/learning-spaces/index.html (accessed 2026-10-15)
  17. 17. Existing Industry / Top Employers, Greater Columbus Indiana EDC: https://www.columbusin.org/industry-targets/our-strengths/ (accessed 2026-10-15)
  18. 18. Hoosiers by the Numbers, Major Employers, Bartholomew County, Indiana DWD: https://www.hoosierdata.in.gov/major_employers.asp?areaID=005 (accessed 2026-10-15)
  19. 19. Toyota Material Handling expands Indiana footprint with nearly $100 million expansion project (May 30, 2024), Toyota Material Handling: https://www.toyotaforklift.com/news/toyota-material-handling-expands-indiana-footprint-with-nearly-100-million-dollar-expansion-project (accessed 2026-10-15)
  20. 20. BCSC homepage (11,400+ students), Bartholomew Consolidated School Corp.: https://www.bcscschools.org/ (accessed 2026-10-15)
  21. 21. BCSC Celebrates Historic Graduation Rate, Bartholomew Consolidated School Corp.: https://www.bcscschools.org/post-details/~board/news-around-the-district-bartholomew-consolidated-school-corporation-3237/post/bcsc-celebrates-historic-graduation-rate (accessed 2026-10-15)
  22. 22. 2025 Annual Report, Columbus Police Department: https://www.columbus.in.gov/police/wp-content/uploads/sites/10/2026/04/2025-Annual-Report.pdf (accessed 2026-10-15)
  23. 23. About the Columbus Campus, Ivy Tech Community College: https://www.ivytech.edu/locations/columbus/about-the-columbus-campus/ (accessed 2026-10-15)
  24. 24. Facilities, Parks & Trails, Columbus Parks and Recreation: https://columbusparksandrec.com/facilities-parks-trails/ (accessed 2026-10-15)
  25. 25. City of Columbus, Opportunity Zone 2.0 Nomination Form, Census Tract 18005010100, submitted to the State of Indiana (2026).
  26. 26. U.S. Census Geocoder (2020 tracts), queried Oct 15, 2026, U.S. Census Bureau: https://geocoding.geo.census.gov/geocoder/ (accessed 2026-10-15)
  27. 27. Tax Abatement, City of Columbus: https://www.columbus.in.gov/community-development/tax-abatement/ (accessed 2026-10-15)
  28. 28. TIF Overview, Columbus Redevelopment Commission: https://www.columbus.in.gov/redevelopment/tif-overview/ (accessed 2026-10-15)
  29. 29. READI 2.0 program awards $30 million to South Central Indiana Talent Region, South Central Indiana Talent Region: https://www.southcentralreadi.com/news/readi-20-program-awards-30-million-to-south-central-indiana-talent-region (accessed 2026-10-15)

Image credits

Data as of Oct 15, 2026. Census figures: ACS 2020–2024 5-year; PEP V2025 (July 1, 2025 estimate); 2010 and 2020 Census.

Not tax advice. Not an offer to sell securities. Nominated tracts are not Opportunity Zones until certified by Treasury.

Is this your city? City officials: update this profile at contact@opportunityzoneinvest.com.