Local governments joined the Maryland Department of Housing and Community Development (DHCD) on May 20 for the state’s Opportunity Zones 2.0 Local Stakeholders Kickoff Webinar. The webinar outlined Maryland’s approach to the next round of federal Opportunity Zone designations.

The webinar focused on recent federal changes to the Opportunity Zone (OZ) program under HR 1 and the important role counties will play in helping identify eligible census tracts for designation.

Opportunity Zones are federally designated census tracts intended to encourage long-term private investment in economically distressed communities through targeted tax incentives. The updated OZ 2.0 framework will require governors nationwide to submit a new round of designated tracts by September 29, 2026. In Maryland, Governor Wes Moore has delegated that responsibility to DHCD.

The webinar featured presentations from the Department and the Economic Innovation Group (EIG), a national research and advocacy organization focused on Opportunity Zones and economic growth. The Innovation Group presenters noted that Opportunity Zones have already generated more than $100 billion in direct equity investment nationwide, with roughly three-fourths of designated tracts seeing some level of investment activity since the program’s creation. The Group also highlighted that housing unit growth in Opportunity Zones has more than doubled since the original designations.

The Group outlined several policy changes included in Opportunity Zones 2.0, including updated eligibility requirements and new considerations intended to better target investment and improve transparency and accountability within the program.

The Department staff outlined Maryland’s nomination process and upcoming timeline. County nomination packets and submission portals were distributed on May 7, and local nominations must be submitted through the state’s DocuSign portal by August 7. The Department will then finalize and submit the designations to the US Treasury by September 29.

The Department also announced that it will meet with every county directly throughout June and July to discuss eligible focus areas and development strategies. Counties are encouraged to involve municipalities and community development organizations in those conversations.

A major theme throughout the webinar was the importance of demonstrating a strong project pipeline. The Department identified planned and development-ready projects as one of the most heavily weighted factors in determining final designations. Counties will be asked to submit information on projects already underway or actively being pursued, including timelines, project descriptions, and how Opportunity Zone designation could support implementation.

Throughout the session, speakers emphasized that Opportunity Zones can serve as one tool among many to advance broader local goals, including housing production, adaptive reuse projects, commercial revitalization, and rural economic development.

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A recording of the webinar can be found here. The Department’s presentation on nomination submissions begins at 33:00.