The City of Winona, Minnesota is applying to designate two census tracts as Opportunity Zones under the OZ 2.0 program: a downtown tract that extends south to Lake Winona and takes in Winona State University, and an East End tract covering industrial parks and major retailers. Development Coordinator Nick Larson said the city is building on its first Opportunity Zone, which it credits with 43 new jobs, more than $250,000 in added local property taxes, and $18 million in increased property values. Applications to the governor are due June 30, with state recommendations to the federal government by the end of September and final designations expected by year-end. A third eligible tract was left out of the city's submission.
Original reporting by Sarah Whitfield for Opportunity Zone Invest, an independent OZ 2.0 research site. Facts are drawn from the primary sources cited above per our editorial standards. Nothing here is tax, legal, or investment advice.
Track OZ 2.0 as it happens
One email when major Opportunity Zone 2.0 events happen — Treasury guidance, state filings, and rule changes.