Edmond Lawmakers Applaud Governor for Opportunity Zone Designations
Two Edmond-area lawmakers thanked Gov. Kevin Stitt for naming numerous census tracts as federal Opportunity Zones, an effort aimed at attracting private investment, encouraging economic development and creating new opportunities in local communities. Three census tracts located in Edmond have been designated as Opportunity Zones, creating new opportunities to attract private investment for housing, downtown revitalization and commercial development. Rep. Erick Harris, R-Edmond, who represents two of the three selected tracts, highlighted municipal leaders' coordinated strategy to connect housing needs, downtown and University of Central Oklahoma traffic and future developments along the city's southern gateway. "I appreciate Gov. Stitt's leadership in securing these Opportunity Zone nominations for Oklahoma," Harris said. "Encouraging private investment in our communities can help create jobs, strengthen our local economies and create new opportunities for Oklahoma families and businesses. These designations give local leaders another tool to support growth and make our state more competitive." In addition to other economic development opportunities, planned projects within the three tracts include: Census Tract 1082.03: A $90 million housing and mixed-use development. Census Tract 1082.04: A proposed $150 million transit-oriented development, a proposed $10 million project and a potential future commuter rail along the Edmond-Oklahoma City-Norman corridor. Census Tract 1082.07: Two mixed-use and multi-family developments totaling $76 million. Together, the three tracts have a documented pipeline of $360.5 million in planned private investment across nine identified future projects. Approximately $285.8 million in public and private investment is anticipated to be completed. Rep. Mike Osburn, R-Edmond, represents one of the three tracts designated Wednesday. "Opportunity zones can help bring private capital to projects that might otherwise face challenges getting across the finish line," Osburn said. "Edmond has already taken advantage of this program, and this designation creates another opportunity to build on that work, attract businesses and expand housing options. From housing near jobs and services to investment around downtown and UCO, these three areas each have an important role in Edmond’s future." Osburn, Harris and other Edmond legislators worked with local leaders to develop the three-tract economic approach and advocate for the designations. "This designation comes in a large part thanks to the relentless work of our Edmond municipal leaders to coordinate with private partners," Harris said. "Edmond is now in a stronger position to attract new investment that benefits our community and strengthens Oklahoma's economy as a whole." Opportunity Zones are federally designated census tracts where qualifying investments made through Qualified Opportunity Funds may receive federal tax benefits. It does not guarantee project financing, approval or construction. The U.S. Department of the Treasury must certify the selected census tracts before they receive official Opportunity Zone designation. The renewed program is scheduled to take effect Jan. 1, 2027, with the new designations lasting 10 years. The full map of nominated tracts may be found here .