Montgomery County has secured federal Opportunity Zone designations for 10 census tracts, including areas in Germantown, Rockville, Wheaton, White Oak and Takoma Park, according to County Executive Marc Elrich.
The designations are part of the National Opportunity Zones Program, which encourages long-term private investment in economically distressed communities through federal tax incentives.
In a statement, Elrich thanked Maryland Governor Wes Moore and his administration for working with Montgomery County to secure the designations.
“This achievement reflects a strong partnership between the State and local governments, and our shared commitment to expanding economic opportunity in communities that are ready for new investment,” Elrich said.
The newly designated areas include Germantown Town Center, Lakeforest, Rockville Pike and Twinbrook Metro, Wheaton, the White Oak/FDA campus and the Washington Adventist area, along with other locations throughout Montgomery County.
According to Elrich, the county worked with Montgomery County Planning, the Montgomery County Economic Development Corporation and municipal partners in Gaithersburg, Rockville and Takoma Park to identify locations with potential for job creation, business growth, housing development and community revitalization.
The Opportunity Zones Program provides tax incentives for investors who reinvest capital gains through Qualified Opportunity Funds, directing private investment into designated communities.
The new designations will take effect January 1, 2027, under the program’s updated framework and enhanced tax benefits.
Elrich said the designations could help attract private investment, accelerate redevelopment projects, support small businesses, expand housing opportunities and strengthen commercial corridors throughout Montgomery County.
“We look forward to working with Governor Moore, our state partners, the development community, and local stakeholders to turn these designations into meaningful investments that benefit residents and businesses across Montgomery County for years to come,” Elrich said.
