Washington State Nominates 99 New Opportunity Zones
Developers in Washougal may see new investment incentives if the Treasury certifies these areas for the upcoming tax program.
Updated on Oct. 29, 2026 in Regional Economics
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Washington state has officially nominated 99 areas, including a Washougal census tract, for the federal Opportunity Zones 2.0 program. This initiative seeks to drive private investment into underserved communities, with new designations set to take effect Jan. 1.
Why it matters
The program provides a vehicle to encourage private capital deployment into specific designated areas, which could shift local development incentives for commercial and industrial property owners. These nominations follow the original program established in 2018, aiming to renew economic development efforts.
Washington state selected 99 areas for Opportunity Zone 2.0 status, including four locations within Clark County. The U.S. Department of the Treasury has not yet finalized its review or certified these nominations.
The players
Bob Ferguson
The Governor of Washington state who manages the state's economic development nominations.
Port of Camas-Washougal
A public port authority managing industrial land and economic infrastructure in Clark County.
Columbia River Economic Development Council
A regional organization focused on driving business growth and investment in Clark County.
The details
The nomination for Washougal covers census tract No. 040507, which encompasses the Addy Street neighborhood, downtown Washougal, and the Port of Camas-Washougal industrial park. City officials collaborated with the Port of Camas-Washougal and the Columbia River Economic Development Council to secure the designation. These local entities intend for the status to facilitate investment by leveraging the tax incentives inherent to the Opportunity Zone framework.
Timeline
2018: The original Opportunity Zones program was established.
Oct. 8: Gov. Bob Ferguson announced the 99 statewide nominations.
Jan. 1: New designations are scheduled to take effect.
Market Landscape
These nominations represent a continuation of the federal tax strategy established by the 2018 Opportunity Zones program. The current effort seeks to expand the geographic scope of that original economic framework into new, underserved census tracts.
Property owners and developers in the nominated Washougal tract should monitor U.S. Department of the Treasury certification results for the Jan. 1 launch. Consult with tax counsel to determine how these potential designations may impact capital gains reinvestment strategies.
The takeaway
The nomination highlights an opportunity for business operators to potentially access tax incentives for projects within the specified Washougal census tract. Monitor the U.S. Treasury's certification progress to confirm the final designation status of these 99 nominated zones.
Further reading
For broader trends impacting local commerce, visit Regional Economics.
Source note: This article includes information reported by Camas-Washougal Post-Record.
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