City of Irvine Secures Opportunity Zone Designation for Irvine Business Complex

New federal designation positions Irvine to attract private investment, accelerate business expansion and drive housing and job growth

IRVINE, Calif., Nov. 10, 2026 /PRNewswire/ -- The City of Irvine has received federal designation under the Opportunity Zone Program for a portion of the Irvine Business Complex (IBC), creating new opportunities to attract long-term private investment and support economic development in one of Orange County's largest employment centers.

The designation of Census Tract 06059075516 follows the U.S. Department of the Treasury's certification of 620 California census tracts nominated by Governor Gavin Newsom. California's selection process included 1,232 census tract recommendations submitted by local authorities. The new designations take effect January 1, 2027, and remain in place for 10 years.

The federal Opportunity Zone Program offers tax incentives for qualifying investments in designated census tracts. The program is intended to encourage long-term private investment that supports economic growth, job creation, and community revitalization.

Within the designated portion of the IBC, qualifying investments could support industrial modernization, redevelopment, business expansion, and additional housing near jobs. The area's proximity to John Wayne Airport and regional freeways, along with City investments in transportation infrastructure and accessibility improvements, could further support investment opportunities.

"This designation strengthens Irvine's ability to attract long-term private investment in the Irvine Business Complex," said Karin Koch, Director of Economic Development for the City of Irvine. "It creates opportunities to support the City's continued economic vitality and build on the qualities that make Irvine a desirable place to live, work, and do business."

The City recommended four eligible census tracts for consideration through California's Opportunity Zones 2.0 selection process. The IBC tract was selected for designation.

About the City of Irvine

Since its incorporation in 1971, Irvine has become a nationally recognized city, with a population of 317,744 that spans 66 square miles and is recognized as one of America's safest and most successful master-planned urban communities. Top-rated educational institutions, an enterprising business atmosphere, sound environmental stewardship, and respect for diversity all contribute to Irvine's enviable quality of life. This family-friendly city features more than 16,000 acres of parks, sports fields and dedicated open space and is the home of the Great Park. For more information, please visit cityofirvine.gov.

SOURCE City of Irvine