Monticello and Wayne County have received approval for two Opportunity Zone 2.0 census tracts, a designation expected to create new opportunities for investment, business growth and economic development across the community.
The project began in 2025 as city and county leaders worked together to secure the designation. Official approval was received from the Governor’s Office, marking an important step in efforts to attract new investment to the local area. Opportunity Zones are economically distressed communities identified by individual census tracts and designated to encourage investment in areas that have historically experienced lower levels of economic activity. The program provides incentives designed to attract private investment into communities that can benefit from additional economic development.
The original Opportunity Zone program, known as OZ 1.0, was established through the 2017 Tax Cuts and Jobs Act. Opportunity Zone 2.0, established through the One Big Beautiful Bill Act of 2025, created a permanent Opportunity Zone program that offers greater certainty for both communities and investors. Monticello and Wayne County applied for two census tracts to be considered for Opportunity Zone 2.0 designation, and both were approved. The designation is especially significant because both approved tracts are classified as rural areas. Businesses that invest within approved rural Opportunity Zones are eligible for enhanced incentives, creating additional reasons for companies and developers to consider investing in the community.
Local leaders say the designation will help attract businesses, encourage private investment and create new opportunities for economic growth throughout Wayne County and Monticello. By providing incentives for investment, the program can help smaller communities compete for projects that may otherwise be directed to larger markets. The designation may also strengthen future economic development efforts by making the community more attractive to businesses, developers and investors seeking long-term opportunities in rural America.
Unlike a traditional government program, the Opportunity Zones initiative is designed to encourage private-sector investment in underinvested communities. The goal is to spur new business activity, create jobs and encourage long-term economic growth through investment. Under the Opportunity Zone 2.0 program, designated census tracts will remain in effect through the end of 2036. New Opportunity Zone maps will be established every 10 years, providing communities and investors with a long-term framework for planning and development.
Mayor Kenny Catron and Wayne County Judge-Executive Scott Gehring plan to continue working together and participating in upcoming webinars and training opportunities to learn more about the program and share information with the public about what the designation could mean for the local area. For Monticello and Wayne County, the approval of two Opportunity Zone 2.0 census tracts represents more than a designation on a map. It provides a new tool for attracting investment, supporting local business development and positioning the community for future economic growth.