Rochester Economic Development Director Michael Scala is pleased to announce that the U.S. Department of the Treasury has approved Downtown Rochester as one of 25 U.S. Census tracts in New Hampshire designated as Opportunity Zone 2.0 (OZ 2.0) locations.

“Opportunity Zones are an important tool to attract new investment, create good-paying jobs, and bring more housing to New Hampshire,” said Governor Ayotte. “These 25 designated areas represent tremendous opportunities to strengthen our economy and support growth in rural communities across our state. I want to thank our local and regional partners for their hard work throughout this process, and I look forward to working together to build on what makes New Hampshire such a great place to live, work, and raise a family.”

Originally established under the Tax Cuts and Jobs Act of 2017, the federal Opportunity Zone program encourages private investors, developers, and financial institutions to reinvest eligible capital gains into underserved and rural communities. Federal legislation enacted in July 2025 permanently authorized the initiative as Opportunity Zone 2.0, refining program guidelines while expanding targeted incentives. Under the updated framework, qualifying investments through rural Opportunity Zone funds receive an enhanced incentive—including a 30 percent basis step-up after five years—designed to unlock private capital for transformational projects such as workforce housing, commercial and industrial expansion, and community infrastructure.

“This Opportunity Zone designation, as well as the RSA -79E program, and the benefits of Downtown Commercial Zoning are all important tools to incentivize investment and redevelopment within our downtown commercial area,m” said Scala. “The Howard project, which created 45 residential and two commercial units, utilized the OZ program as part of their $12MM investment in our City.”

The OZ 2.0 designations take effect January 1, 2027, and remain active through December 31, 2036. Existing OZ 1.0 designations remain in effect through December 31, 2028.

To view designated tract maps, program guidelines, and the schedule for upcoming regional informational sessions, visit www.choosenh.com/choosenh/work/business-resources/opportunity-zones.