Rochester Opportunity Zone submitted for potential investment, development

Indiana Governor Mike Braun announced that Indiana has nominated 126 census tracts for designation as Opportunity Zones for the 2027-2036 designation cycle. Submitted to the U.S. Department of Treasury, the nominations identify economically distressed communities across the state with strong potential to attract private investment, spur development and support sustained economic growth.

One of those zones is in Rochester.

Opportunity Zones (OZs) are designed to encourage local development projects in census tracts that meet federal low-income community criteria by providing federal tax incentives for investors. Congress first created the program in 2017; the updated program – commonly referred to as OZ 2.0 – was made permanent through the 2025 One Big Beautiful Bill Act, and new zones will be designated every 10 years.

Indiana’s OZ 2.0 nominations reach all 15 economic development regions, include all or portions of 61 cities or towns and 47 counties, and include 42 rural census tracts. After Treasury certifies and designates Indiana’s nominations, these Opportunity Zones will be in effect from Jan. 1, 2027, through Dec. 31, 2036.

Indiana Secretary of Commerce Chuck Goodrich. “We combined extensive data analysis with local and regional priorities to identify communities that demonstrate both economic need and the potential to attract investment. The result is a balanced statewide portfolio with strong opportunities for growth.”

Federal law allowed Indiana to nominate up to 126 of the state’s 501 eligible census tracts. Indiana’s selection process evaluated all eligible tracts using quantitative measures of economic conditions and demographic trends, and considered evidence of specific development opportunities and alignment with state, regional and community development priorities, including the Regional Economic Acceleration and Development Initiative (READI). Local governments, regional and local economic development organizations, investors, developers and community organizations also submitted eligible tract recommendations during a public input period.