Opportunity Zones are a federal tax benefit available to investors with capital gains. Investors can make investments in low-income census tracts [IRC Section 45D(e)] that were nominated by the governor of Virginia and certified by the U.S. Treasury. A low-income census tract is defined as having an individual poverty rate of at least 20 percent or a median family income no greater than 80 percent of the area median income. According to the 2015 and 2016 U.S. Census data, Virginia had 901 eligible census tract, and per the Tax and Jobs Act, Virginia was only able to nominate 25 percent or 212 tracts and could have up to 5 percent or 11 as contiguous tracts. Virginia nominated 212 out of 901 tracts. The designations are permanent until Dec. 31, 2028.