SeaTac nominated for Opportunity Zones 2.0 by governor

Published on October 19, 2026

Gov. Ferguson recently selected 99 Opportunity Zones to encourage private investment, including all four submitted census tract applications from the City of SeaTac! This second-generation program encourages investors, developers and financial institutions to fund real estate development and businesses in exchange for tax incentives.

This is great news for SeaTac’s business community! All four census tracts have the original Opportunity Zone (OZ) designations and have attracted more than $300 million in investment and development since 2018. Projects include Polaris and Adara at SeaTac, as well as the Amelia Apartments. Several other projects were possible, in part, by the designations.

The original OZ designations will remain active through Dec. 31, 2028, overlapping with the new designations.

The second-generation OZ designation is one of very few incentives available in Washington State. Eligible projects may allow investors to reduce, defer, and eliminate federal capital gains taxes, provided they meet the program’s requirements, including holding investments for more than 10 years.

The four census tracts (53033028402, 53033028100, 53033028403, 53033028802) cover nearly two-thirds of the City of SeaTac that is eligible for such investments. SeaTac’s designated tracts represent about 4.04% of all designated census tracts in the State of Washington.

The application process was competitive, with 152 applications submitted statewide. Gov. Ferguson nominated the 99 selected tracts, representing 27 counties and 17 tribal lands, to the U.S. Treasury Department. The new designations are scheduled to take effect Jan. 1, 2027.

More information

You can view the full list of nominations and program details on the Summary OZ Dashboard. Learn more about the program in the governor’s press release.