Prosperity Indiana, the Association of Indiana Municipalities (AIM), and the National Community Reinvestment Coalition (NCRC) recently came together for a webinar to encourage members and other Indiana stakeholders to collaborate on nominations for the state’s allocation of the federal Opportunity Zones 2.0 program, with a nomination window that is open through July 17, 2025.

See the video of the webinar here.

The Opportunity Zone program has been modified substantially from its first to second iteration and includes new potential for local governments and community economic development organizations to partner on OZ 2.0 nominations to maximize this opportunity for low-to-moderate income Hoosiers.

Opportunity Zones 2.0 (OZ 2.0) is an updated federal investment incentive program created under the 2025 One Big Beautiful Bill Act (OBBBA). It provides tax benefits to encourage private investment in low-income census tracts. OZ 1.0 resulted in over $100 billion in capital investment, which primarily went to market-rate housing developments. Some of the key changes from the original program are that:

• The program is now permanent with a new 10-year designation cycle.

• Tracts nominated in 2026 will remain designated through 2036.

• Stricter eligibility rules and new reporting requirements will apply.

• Enhanced incentives are available for rural areas.

As discussed in the webinar, the following resources may be helpful to assist potential nominations, including:

• Indiana Economic Development Corp.’s Indiana Opportunity Zones page, which includes key deadlines and guidelines for nominations, as well as a PDF copy of the nomination form to serve as a guide to walk through the online nomination portal. IEDC is also hosting an Indiana Opportunity Zone Webinar on June 24.

• NCRC’s Opportunity Zones 2.0: What You Need to Know and How to Act Now page, including an interactive mapping application to identify eligible census tracts and assess community conditions.

Additional housing and economic data resources include:

• The Gap-Indiana 2026, on affordable rental housing supply and cost burden, from Prosperity Indiana and NLIHC.

• Out of Reach-Indiana 2025, on the income and jobs necessary to afford rental housing in Indiana, from Prosperity Indiana and NLIHC.

• The Indiana Housing Dashboard, a platform for users to track demographic and housing trends across the state at a county-by-county level, from IHCDA.

This is a once-in-a-decade opportunity to shape where private investment flows in your community. The designation process is competitive — and time is short. Best of luck to all in your collaborations to strengthen Indiana’s pool of nominations!