Opportunity Zones

Created as part of the Tax Cuts and Jobs Act of 2017, Opportunity Zones (OZ) are a federal tax incentive designed to incentivize investors to reinvest capital gains in economically distressed communities, thereby stimulating economic development and job creation. There are eight federally designated Opportunity Zones in the Pikes Peak region. Investors will be able to defer, reduce, and potentially eliminate certain federal capital gains taxes by investing their capital gains into Qualified Opportunity Funds.

Tax Benefits:

  • Deferral – No up-front tax bill on the rolled-over capital gain and investors can defer their original tax bill until the earlier of a) December 31, 2026, or b) the sale of the Opportunity Zone investment.
  • Reduction of tax on the rolled-over capital gain investment for long-term holding. A 5-year holding increases the rolled-over capital gains basis by 10%, and a 7-year holding increases the rolled-over capital gain investment basis 5%, for a total of 15%.
  • Tax-free appreciation – If an Opportunity Fund investment is held for ten years, the taxpayer pays no capital gains tax on the appreciation.


The gBETA Opportunity Zone Capital Accelerator Program is open to all businesses interested in maximizing investment in Opportunity Zones to spur economic growth and job creation.


IRS Opportunity Zones FAQS

Colorado Office of Economic Development and International Trade Colorado Opportunity Zone Program

White House Opportunity and Revitalization Council: Reports to the President

El Paso County Assessor’s My Community Opportunity Zones Mapping Toolmust select “opportunity zones” under “map layers”

Click here to view the Pike Peak Region’s OZ maps

Click on the image below to open the OZ one-pager

Click to open the Federal Opportunity Zones one-pager

Contact Us:

Crystal LaTier
Economic Development Executive Director
9 E. Vermijo Ave.
Colorado Springs, CO 80903
Phone: 719-520-6484

Katie Plutz
Business Incentives Analyst
9 E. Vermijo Ave.
Colorado Springs, CO 80903
Phone: 719-520-7493