Spokane Designates Seven Census Tracts as Opportunity Zones

Spokane, WA, October 13, 2026 —

The City of Spokane, Washington, has officially designated seven census tracts within its boundaries as Opportunity Zones. This designation is part of a federal program aimed at encouraging economic development and job creation in distressed communities.

Opportunity Zones are economically distressed communities, defined by statute, that are certified by the U.S. Treasury Department. The designation allows for investors to receive tax benefits for investing eligible capital into these zones. The program was established by the Tax Cuts and Jobs Act of 2017.

Specific details regarding which census tracts were selected, the process undertaken by the City of Spokane to identify and nominate these areas, or the specific economic criteria used for selection were not immediately available. The announcement did not include information about the potential economic impact or projected investment figures associated with these new designations.

Further information regarding the designated census tracts and the objectives of the Opportunity Zone program for Spokane is expected to be released by the city. The program incentivizes long-term investments in these designated areas, potentially spurring growth in businesses, real estate development, and job opportunities for residents. The specific benefits for investors typically include deferral of tax on previously taxed capital gains, elimination of tax on capital gains that are reinvested in Opportunity Funds, and an increase in basis for reinvested gains if the fund is held for five and seven years.

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