Small business division to hold webinar March 9 for new online tool

The Delaware Division of Small Business, in partnership with Gov. Matt Meyer, launched an online form March 4 that will allow investors, economic development professionals and government officials to nominate census tracts for the Opportunity Zone 2.0 program.

Opportunity Zones are census tracts that serve as an economic development tool to encourage private-sector investment in economically distressed communities. OZ census tracts offer significant tax benefits to investors who are willing to make long-term investments that result in substantial improvements within the zone.

DSB will hold a webinar from 11:30 a.m. to 12:30 p.m., Monday, March 9, to provide more details about what it and the Governor’s Office are looking for in nominations of potential census tracts. Register at tinyurl.com/b9p2h88b.

“Opportunity Zones are a powerful tool for attracting investment and growing Delaware’s economy,” said Meyer. “But we need your help to decide which eligible census tracts are most likely to attract investment and grow our communities."

“The process of selecting the next round of Opportunity Zones is vital to Delaware’s economic development efforts,” said DSB Special Projects Director Patricia Cannon. “The census tracts that are nominated should have investible assets that can be attractive to investors and have long-term positive impacts on the designated underserved communities.”

Changes at the federal level in the One Big Beautiful Bill Act make the OZ program permanent and now require it to be updated every 10 years. Governors submit nominations of eligible tracts from a list provided by U.S. Treasury. The next round of designations will begin Wednesday, July 1. Meyer will have until Wednesday, Sept. 30, to nominate 25 census tracts from that list.

In preparation, DSB and the Governor’s Office encourage community leaders, developers, financial institutions, property owners, officials and potential investors to help identify parcels of land and projects that could be important to consider as assets to attract investment from qualified Opportunity Zone fund investors. The nomination form can be found at de.gov/OppZoneForm.

Once approved by U.S. Treasury, the newly designated OZ will go into effect Jan. 1, 2027.

The Delaware Division of Small Business is a service-focused state agency within the Delaware Department of State that is committed to helping businesses start and grow in Delaware. Its regional business managers can help owners navigate government processes, connect with partner organizations that offer resources to small businesses, and identify opportunities to access capital. DSB also oversees the Delaware Tourism Office and the Office of Supplier Diversity.