Recent Opportunity Zones 2.0 legislation introduces rolling 10-year designations, stronger incentives for rural investment — including a 30% reduction in capital gains tax — stricter income criteria, and mandatory reporting. These updates redefine the nation’s largest community development incentive and determine which areas remain eligible for investment.
Presented by University of Illinois Extension, USDA Rural Development, Promised Land, and the Illinois Department of Commerce and Economic Opportunity, this webinar explains how the new Opportunity Zones 2.0 rules reshape investment opportunities for Illinois communities, especially rural and distressed areas that struggle to attract capital. Many local leaders, investors, and organizations are unsure how these changes affect eligibility, reporting, and long-term economic potential. This session focuses on what matters most: understanding the new requirements, identifying opportunities, and positioning communities to benefit from these incentives.
What Attendees Will Gain:
- Clarity on how the new rules affect Illinois communities and why they matter.
- Insight into Qualified Rural Opportunity Funds (QROFs) and how they direct investment into rural areas.
- Guidance on eligibility, compliance, and reporting requirements under the updated legislation.
- Strategies for using Opportunity Zones to support economic growth, job creation, and community revitalization.
- Illinois-specific examples, tools, and resources to support informed decision-making.
Presenters:
- Jesus Ortega, Illinois state director of USDA Rural Development, directs federal policy efforts that support economic prosperity nationwide.
- Chad Phillips, federal policy manager for the Illinois Department of Commerce and Economic Opportunity, leads the department’s federal affairs and helps organizations access resources that drive economic growth in Illinois.
- Mark Jablonski, business development lead at Promised Land, builds investor relationships and strategic partnerships supporting the firm’s Opportunity Zone farmland investment strategy.
