Governor Jenniffer González Colón announced on Friday that Puerto Rico has 178 new census tracts designated as Opportunity Zones under the second phase of the federal program, Opportunity Zones 2.0. The official list was published by the US Treasury Department and the IRS after the Puerto Rico government requested the areas’ inclusion. The designations cover rural and non-rural communities across the island and aim to attract private investment to low-income communities through tax benefits for qualifying projects and investments.
González Colón said that, as resident commissioner in Washington, she pushed for Puerto Rico’s inclusion in the program, created by the 2017 Tax Cuts and Jobs Act, and after Hurricane María secured provisions to certify low-income communities’ census tracts as Opportunity Zones. The new phase was authorized by the One Big Beautiful Bill Act, also known as Working Families Tax Cuts, signed by President Donald Trump on July 4, 2025, which made the program permanent and kept Puerto Rico eligible under the same parameters as the states.
Governments had until October 28 to nominate tracts. The new zones take effect January 1, 2027 and will be in force for 10 years. Economic Development and Commerce Secretary Carlos Ríos Pierluisi said the federal government approved all 178 tracts Puerto Rico nominated, crediting coordination between DDEC, PRFAA, agencies, municipalities and the private sector.
PRFAA executive director Gabriella Boffelli highlighted the collaboration with the federal government and Congress. Treasury Secretary Scott Bessent said the designations seek to direct private investment to underserved communities. Treasury data show the program has generated more than $110 billion in private investment nationally since its creation.