Idaho (CBS2) —Five areas in Boise are one step closer to being designated as Opportunity Zones after Gov. Brad Little and the Idaho Department of Commerce recommended the nominations to the federal government
If the U.S. Department of the Treasury approves the nominated designations, they would take effect Jan. 1, 2027, and remain in place for 10 years.
Opportunity Zones qualify for federal tax benefits intended to encourage private investment — not city or state tax dollars — to support community development.
“This is a win for Boise,” Boise Mayor Lauren McLean said. “These tax benefits will help encourage growth and investment by spurring the market to build more homes, start new businesses, and create more jobs for our residents.”
The City of Boise identified five areas for Opportunity Zone designation: Downtown, Shoreline, University District, South Boise Village and West Boise.
The city selected the areas using a combination of data, community input and planning work already underway. City staff reviewed economic conditions, proximity to infrastructure, development plans, zoning, existing incentives and other factors that could make the areas good candidates for new investment. Staff also spoke with community partners as part of ongoing conversations with residents to better understand where investment could have the greatest impact.
If approved, the designation would give Boise another tool to attract private investment to areas positioned for growth. Private investors could choose to invest in projects such as new housing, small businesses, commercial development or redevelopment of underused properties. The city does not decide which private projects receive investment, but the designation creates an incentive for investors to consider projects in the nominated areas.
“Opportunity Zones are one piece of our larger strategy to make sure Boise is ready for responsible, community-aligned investment,” McLean said. “We want to use every tool available to create more housing, more opportunity and stronger neighborhoods. By growing intentionally and creating more homes and jobs near parks, schools and transit corridors, Boiseans can spend less time driving and more time living, connecting and building community in this special place we call home.”
The City of Boise said it will continue to keep the community informed as the federal review moves forward.
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