Opportunity Zones are a new community development program established by Congress in the Tax Cuts and Jobs Act of 2017, to encourage long-term investments in low-income urban and rural communities nationwide. The Opportunity Zones program provides a tax incentive for investors to re-invest their unrealized capital gains into Opportunity Funds that are dedicated to investing into Opportunity Zones designated by the chief executives of every U.S. state and territory.

There are 176 census tracts in Tennessee (17 in Southeast Region) that are qualified opportunity zones (QOZs). These low-income tracts were nominated by Tennessee and certified by the Secretary of the Treasury. 

TNECD Opportunity Zones

IRS Q&A About Opportunity Zones