Lorain, Ohio
Three census tracts in the City of Lorain are designated Opportunity Zones effective January 1, 2027, and Opportunity Zone Invest analysis places them on the West Bank lakefront, at Riverbend Commerce Park and along the east-side industrial corridor. Broadway and Black River Landing sit in an adjacent tract, and the Hot Waters boat launch and the finger piers are on the West Bank waterfront near the former Pellet Terminal. A fund could back mixed-use work at the city-owned Pellet Terminal after the mid-2027 infrastructure is in place, or industrial projects on Riverbend’s available parcels; that is not an offer or a prediction of returns, and tax counsel should review the structure.
Lorain West Breakwater Light · Photo: Rona Proudfoot, CC BY-SA 2.0 · Wikimedia Commons
The six Lorain County tracts and how they compare with a state table are in our November 11 story, Ohio’s county list undercounts Lorain: six zones, not five. Meet Elyria, the county seat, in our city profile of downtown, the Midway Mall corridor and Leo Bullocks Parkway.
The case in 60 seconds
- A city-owned waterfront on the West Bank. Opportunity Zone Invest analysis places the former Pellet Terminal basin and the Lorain West Breakwater Light in tract 224. The city finished a $4,026,000 state grant plus $1,700,000 in city funds for Phase 1 cleanup in 2023, and on May 15, 2026, Ohio added a $999,760 brownfield grant for a sanitary lift station and soil work, the Morning Journal reported. The state’s release, as quoted there, said the work “will enable a major mixed-use redevelopment effort, with proposals ranging from $80 million to $180 million and an estimated 200 new permanent jobs.” Work runs into mid-2027. The Hot Waters boat launch and the finger piers are on that waterfront near the former Pellet Terminal.5,6,7,8
- Room to build at Riverbend. Riverbend Commerce Park, at 2299 Colorado Avenue, is city-owned. A Lorain Port & Finance Authority fact sheet describes about 212.8 acres, nine available parcels from 1.3 to 76.3 acres, and infrastructure already in place. Opportunity Zone Invest analysis places that address, and Camaco next door at 2200 Colorado Avenue, in tract 230. In October 2024, the Ohio Tax Credit Authority granted a job-creation credit for a Camaco expansion that would retain 272 jobs and create 104 full-time-equivalent jobs, with more than $5.2 million in annual payroll, according to a Bricker Graydon summary of Crain’s Cleveland. The Lorain Ohio KartPlex at 2000 Root Road, also in tract 230 by the same analysis, is a $12.5 million complex; developer Kris McCrone said, “It’s a multimillion-dollar impact to the city and we have as a goal of fifty percent of all our staff coming from the City of Lorain.”9,10,11,12,8
- Downtown sits next door. Broadway, Black River Landing and its new amphitheater, City Hall, the Palace Theatre and the Ariel Broadway Hotel sit in tract 973, a 2018 zone through December 31, 2028, adjacent to the new West Bank tract. The Lorain Port & Finance Authority says the landing sees over 150,000 people annually. Opportunity Zone Invest analysis places the city’s three designated tracts on the West Bank and the east side. Lorain County’s full count of six designated tracts, including two tracts whose Census internal points fall in Elyria, plus a third (703) that straddles the city line, three in and around Elyria, is in our November 11 news story. Midway Mall, which Opportunity Zone Invest analysis places in tract 703, is under a purchase agreement; on May 19, 2026, the Morning Journal reported that the Lorain County Port Authority entered a $15.8 million agreement with IRG for 57.48 acres, with 180 days to close.13,14,4,8,15,16,17,18
A port city turning its waterfront forward
Lorain stands at the confluence of the Black River and Lake Erie. The city’s Waterfront Redevelopment Project describes “50-acres of long-vacant shipbuilding, steel, and manufacturing sites” there, with three pieces: the former Pellet Terminal, Sunset Pier Park on the finger piers, and the Hot Waters boat launch.5
The city has been reclaiming that shoreline as a public destination. Mayor Jack Bradley said of the Pellet Terminal grant: “This funding helps close a critical infrastructure gap at the Pellet Terminal site and moves us one step closer to transforming this important waterfront property into a catalyst for future investment and redevelopment.” The city’s waterfront page calls Hot Waters “the only free public boat launch in our region.”5,7
Who's here
These employers and operators sit in the city’s designated tracts, by Opportunity Zone Invest analysis:8
| Employer | Sector | Local operations | Home country |
|---|---|---|---|
| Camaco | Auto-seat manufacturing | Plant at 2200 Colorado Avenue, next to Riverbend | USA |
| Lorain Ohio KartPlex | Motorsports | Complex at 2000 Root Road | USA |
| Republic Steel | Steel | Lorain Hot Rolled Bar Plant, 1807 East 28th Street | USA |
An auto-seat expansion next to the park
At 2200 Colorado Avenue, next door to Riverbend and in tract 230 by Opportunity Zone Invest analysis, Camaco was granted a job-creation credit in October 2024 for an expansion that would retain 272 jobs and create 104 full-time-equivalent jobs, with more than $5.2 million in annual payroll, according to a Bricker Graydon summary of Crain’s Cleveland.10,8
The 28th Street steel campus
Opportunity Zone Invest analysis places Republic Steel’s Lorain Hot Rolled Bar Plant at 1807 East 28th Street in tract 231. In a November 20, 2025 News 5 Cleveland report, Mayor Bradley said: “We are encouraged by the strong interest shown in Lorain as a site for renewed steel production.” That is the most recent dated public statement reviewed here; it is not a construction timetable or a commitment.19,8
Lorain vs. Ohio
| Metric | Lorain | Ohio | Vintage |
|---|---|---|---|
| Population, 2010 Census | 64,097 | 11,536,504 | 2010 and 2020 Census |
| Population, 2020 Census | 65,211 | 11,799,448 | 2010 and 2020 Census |
| Population, July 1, 2025 est. | 65,366 | 11,900,510 | PEP V2025 (July 1, 2025 estimate) |
| Change since 2020 | +0.2% | +0.9% | PEP V2025 (July 1, 2025 estimate) |
| Median household income | $48,685 | $71,389 | ACS 2020–2024 5-year |
| Per-capita income | $27,589 | $40,552 | ACS 2020–2024 5-year |
| Bachelor's or higher, age 25+ | 14.8% | 31.5% | ACS 2020–2024 5-year |
| Foreign-born | 2.7% | 5.2% | ACS 2020–2024 5-year |
| Median home value (owner-occupied) | $139,200 | $214,800 | ACS 2020–2024 5-year |
| Median gross rent | $887 | $1,034 | ACS 2020–2024 5-year |
| Owner-occupied rate | 57.1% | 67.2% | ACS 2020–2024 5-year |
| Mean commute | 24.9 min | 23.4 min | ACS 2020–2024 5-year |
| Persons in poverty | 25.2% | 13.3% | 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.3
What people are building
These projects sit in or near the city’s designated tracts. Tract assignments are Opportunity Zone Invest analysis.8
Pellet Terminal
At the former iron-ore terminal, a site of more than 20 acres, the city finished Phase 1 in 2023, removing contaminated soil and building a new parking lot. Phase 2 extends Broadway to the site and adds utilities, with work running into mid-2027. The sources reviewed here name no selected developer. The city seeks “an accessible public destination,” with uses that “may include” recreation, entertainment, business, retail, tourism and hospitality.6,7
Hot Waters boat launch
The launch reopened on May 22, 2026, funded in part by the U.S. Environmental Protection Agency and the Ohio Department of Natural Resources, the Morning Journal reported. Mayor Bradley said: “A couple years ago, I was called over to the Polish Fishermen’s Club, and they said, ‘When are you gonna do something about the boat launch?’” He later said of the city’s engineering team, “They’ve been able to use those funds to transform this area into the best free boat launch in the state of Ohio.” This profile describes the launch as part of the West Bank waterfront near the former Pellet Terminal, not as a confirmed location inside tract 224.20,5,8
Sunset Pier Park
Sunset Pier Park is the city’s name for redeveloping the “finger piers,” built in the late 1940s, at the west end of Lorain Harbor. The Morning Journal reported on February 24, 2026, that Targeted Stabilization Phase 1 is budgeted at $3.5 million, paid from $4 million in federal Congressional Directed Spending through the U.S. Department of Housing and Urban Development. On June 15, 2026, City Council unanimously voted to accept the $4 million grant. The city’s park page lists playground equipment, 1.3 miles of riverwalk and fishing areas, and a walkway toward Black River Landing, which sits in the adjacent tract. A clean point match was not available for the finger piers, so they are described as near the former Pellet Terminal.21,22,23,8
Lorain Ohio KartPlex
The KartPlex at 2000 Root Road is a $12.5 million motorsports complex on 37.5 acres of a former landfill closed in the 1960s and capped in 1980. Opportunity Zone Invest analysis places that named site in tract 230. It opened in phases beginning July 19, 2025. The Morning Journal reported that the city and Lorain County each committed $2 million in 2023. The operator’s site lists a brewery, a 500-person event center, an indoor electric track and a sim-racing arena for 2027 — the next phases the operator lists, not a named fund project.11,24,8
Tract 224: West Bank lakefront
GEOID 39093022400 · designated · effective Jan 1, 2027 · non-rural (10% step-up) · in a 2018 OZ: yes1,2
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.17
- Former Pellet Terminal basin
- Lorain West Breakwater Light
Opportunity Zone Invest analysis of Census tract geometry. A clean address or point match was not available for the Hot Waters boat launch or the finger piers, so this profile describes them as part of the West Bank waterfront near the former Pellet Terminal, not as confirmed locations inside the tract.
Tract details → · Open on the OZ map → · All eligible tracts in Ohio →
Tract 230: Riverbend and Colorado Avenue
GEOID 39093023000 · designated · effective Jan 1, 2027 · non-rural (10% step-up) · in a 2018 OZ: yes1,2
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.17
- Riverbend Commerce Park, 2299 Colorado Avenue
- Camaco, 2200 Colorado Avenue
- Lorain Ohio KartPlex (named site at 2000 Root Road)
Opportunity Zone Invest analysis. The KartPlex site is placed in this tract from the named facility point.
Tract details → · Open on the OZ map → · All eligible tracts in Ohio →
Tract 231: East 28th Street corridor
GEOID 39093023100 · designated · effective Jan 1, 2027 · non-rural (10% step-up) · in a 2018 OZ: yes1,2
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.17
- Republic Steel’s Lorain Hot Rolled Bar Plant, 1807 East 28th Street
Opportunity Zone Invest analysis of the plant address.
Tract details → · Open on the OZ map → · All eligible tracts in Ohio →
From demand to deal
Mixed-use at the Pellet Terminal
After the mid-2027 lift station, Broadway extension and utilities, a fund could come in at the developer level on the city-owned terminal. The state’s May 2026 release, as reported by the Morning Journal, sized proposals at $80 million to $180 million. That is not an offer or a prediction of returns.6,7
Illustrative OZ-eligible strategies, each matched to a documented local need. None of them is a recommendation.
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. Tracts 224, 230 and 231 are 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
From designation to the 10-year exclusion
- Nov 5, 2026Ohio nominates 260 tracts, including tracts 224, 230 and 23118
- By Nov 27, 2026Treasury published the final list on November 5, 2026 (press release sb0682).18
- Jan 1, 2027Designated OZ 2.0 tracts take effect January 1, 2027.18
- Jan 1, 2032+First 5-year step-up for investments made in early 2027
- Jan 1, 2037+First 10-year exclusion for investments made in early 2027
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.
Layers on top of OZ
| Program | Administered by | What it does |
|---|---|---|
| Federal Opportunity Zones | U.S. Treasury / IRS | Deferral, a 10% step-up for these non-rural tracts, and a 10-year exclusion on appreciation. The three City of Lorain tracts are flagged Non-Rural in the CDFI Fund workbook, so the rural enhancement does not apply.2,1 |
| Ohio Opportunity Zones credit | Ohio Department of Development | A separate non-refundable state credit equal to 10 percent of a qualifying investment made through an Ohio Qualified Opportunity Fund, up to $2 million per applicant in the 2026–2027 biennium. Check the department’s program rules.25 |
Lorain Opportunity Zone FAQ
How many Opportunity Zone tracts are in Lorain?
Lorain County has six designated tracts. Three have internal points in the City of Lorain (tracts 224, 230 and 231) and two tracts whose Census internal points fall in Elyria (tracts 709.01 and 976), plus a third (703) that straddles the city line, three in and around Elyria, by Opportunity Zone Invest analysis of Census data. Tract 703 is designated; its Census internal point is outside any incorporated place. They take effect Jan. 1, 2027.
Is downtown Lorain in the new zones?
No. Broadway and Black River Landing sit next door in tract 973, a 2018 zone through Dec. 31, 2028, adjacent to the new West Bank tract.
What is happening at the former Pellet Terminal?
The city has cleaned up more than 20 acres of contaminated soil and is building a sanitary lift station and extending Broadway. In May 2026 the state added a $999,760 grant. Utility and soil work continues into mid-2027.
Can I check whether a Lorain property is in a designated tract?
Yes. Enter its address in the Census Bureau’s address lookup or the Opportunity Zone Invest tract lookup. Zone status follows the census tract, not the city limits.
Does the Ohio tax credit apply?
Ohio has a separate credit equal to 10% of an investment through a state-recognized fund, up to $2 million per applicant in the 2026-27 biennium, per the Ohio Department of Development. Check the program rules.
Is Midway Mall in Elyria in a designated tract?
Opportunity Zone Invest analysis places Midway Mall in tract 703, which is designated. A Census Bureau internal-point check places that tract outside any incorporated place. Elyria has two designated tracts whose Census internal points fall in the city (709.01 and 976), plus 703, which straddles the city line: three in and around Elyria. It is under a purchase agreement. On May 19, 2026, the Morning Journal reported that the Lorain County Port Authority entered a $15.8 million agreement with IRG for 57.48 acres, with 180 days to close.
Sources
- 1. CDFI Fund final Opportunity Zone workbook, CDFI Fund: https://www.cdfifund.gov/media/8018881/download?inline (accessed 2026-11-11)
- 2. Treasury announcement of designated Opportunity Zones (press release sb0682), U.S. Department of the Treasury: https://home.treasury.gov/news/press-releases/sb0682 (accessed 2026-11-11)
- 3. QuickFacts, Lorain city, Ohio (PEP V2025; ACS 2020–2024 5-year; 2010/2020 Census), U.S. Census Bureau: https://www.census.gov/quickfacts/fact/table/loraincityohio,OH/PST045224 (accessed 2026-11-11)
- 4. Ohio’s county list undercounts Lorain: six zones, not five, OpportunityZoneInvest: https://opportunityzoneinvest.com/news/ohio-county-list-undercounts-lorain-six-zones-not-five/ (accessed 2026-11-11)
- 5. City of Lorain Waterfront Redevelopment Project, City of Lorain: https://www.cityoflorain.org/648/City-of-Lorain-Waterfront-Redevelopment- (accessed 2026-11-11)
- 6. Pellet Terminal Remediation and Redevelopment, City of Lorain: https://www.cityoflorain.org/735/Pellet-Terminal-Remediation-and-Redevelo (accessed 2026-11-11)
- 7. City of Lorain receives nearly $1 million grant for former Lorain Pellet Terminal, Morning Journal: https://www.morningjournal.com/2026/05/15/city-of-lorain-receives-nearly-1m-grant-for-former-lorain-pellet-terminal/ (accessed 2026-11-11)
- 8. Opportunity Zone Invest analysis of Census Bureau address matches and OpenStreetMap points tested against Census tract polygons
- 9. Riverbend Commerce Park fact sheet, Lorain Port & Finance Authority: https://www.lorainport.com/wp-content/uploads/2020/07/Riverbend-Commerce-Park-Fact-Sheet.pdf (accessed 2026-11-11)
- 10. Auto-seat manufacturer awarded state tax credit for Lorain expansion, Bricker Graydon, summarizing Crain’s Cleveland: https://www.brickergraydon.com/DevelopOhio/auto-seat-manufacturer-awarded-state-tax-credit-for-lorain-expansion (accessed 2026-11-11)
- 11. First event at Lorain Ohio KartPlex slated for July 19, Morning Journal: https://www.morningjournal.com/2025/06/20/first-event-at-lorain-ohio-kartplex-slated-for-july-19/ (accessed 2026-11-11)
- 12. Lorain landfill shut down for decades looks to become an economic driver as a racing complex, Cleveland19: https://www.cleveland19.com/2025/03/10/lorain-landfill-shut-down-decades-looks-become-an-economic-driver-racing-complex/ (accessed 2026-11-11)
- 13. Black River Landing stage project, Lorain Port & Finance Authority: https://www.lorainport.com/stageproject/ (accessed 2026-11-11)
- 14. CDFI Fund 2018 designated Opportunity Zone list, CDFI Fund: https://www.cdfifund.gov/sites/cdfi/files/documents/designated-qozs.12.14.18.xlsx (accessed 2026-11-11)
- 15. Three Elyria areas receive federal investment incentives, Morning Journal: https://www.morningjournal.com/2026/11/10/three-elyria-areas-receive-federal-investment-incentives/ (accessed 2026-11-11)
- 16. Midway Mall in Elyria under a $15.8 million purchase agreement, Morning Journal: https://www.morningjournal.com/2026/05/19/midway-mall-in-elyria-sold-for-15-8m-to-development-group/ (accessed 2026-11-11)
- 17. Lorain County, Ohio: Opportunity Zone tracts, OpportunityZoneInvest: https://opportunityzoneinvest.com/zones/ohio/lorain-county/ (accessed 2026-11-11)
- 18. Ohio Opportunity Zones, OpportunityZoneInvest: https://opportunityzoneinvest.com/zones/ohio/ (accessed 2026-11-11)
- 19. City of Lorain touts promising talks for major steel plant investment, News 5 Cleveland: https://www.news5cleveland.com/news/local-news/city-of-lorain-touts-promising-talks-for-major-steel-plant-investment (accessed 2026-11-11)
- 20. Lorain celebrates reopening of Hot Waters boat launch, Morning Journal: https://www.morningjournal.com/2026/05/22/lorain-celebrates-reopening-of-hot-waters-boat-launch/ (accessed 2026-11-11)
- 21. Sunset Pier Park, City of Lorain: https://www.cityoflorain.org/733/Sunset-Pier-Park (accessed 2026-11-11)
- 22. Stabilization efforts to begin this year at Sunset Pier Park in Lorain, Morning Journal: https://www.morningjournal.com/2026/02/24/stablization-efforts-to-begin-this-year-at-sunset-pier-park-in-lorain/ (accessed 2026-11-11)
- 23. Lorain City Council authorizes use of $4 million grant for Sunset Pier Park, Morning Journal: https://www.morningjournal.com/2026/06/16/lorain-city-council-authorizes-use-of-4-million-grant-for-sunset-pier-park/ (accessed 2026-11-11)
- 24. Lorain Ohio KartPlex, Lorain Ohio KartPlex: https://www.lorainkartplex.com/ (accessed 2026-11-11)
- 25. Ohio Opportunity Zones, Ohio Department of Development: https://development.ohio.gov/business/state-incentives/ohio-opportunity-zones (accessed 2026-11-11)
Image credits
- Lorain West Breakwater Light: Rona Proudfoot, CC BY-SA 2.0 (Wikimedia Commons, April 2008; resized for this page. Adaptation CC BY-SA 2.0. Opportunity Zone Invest analysis places the lighthouse in tract 224.) · Wikimedia Commons
Data as of Nov 11, 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. Designated OZ 2.0 tracts take effect January 1, 2027.