Washington Nominates Washougal for Opportunity Zone Status
Designations could open new investment incentives for local properties and businesses starting on January 1.
Updated on Oct. 29, 2026 in Regional Economics
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Washington has nominated 99 areas, including census tract No. 040507 in Washougal, for the federal Opportunity Zones 2.0 program. These nominations, announced on Oct. 8, aim to stimulate private investment in local neighborhoods.
Why it matters
The program is designed to drive private capital into underserved communities to support development. If certified by the U.S. Department of the Treasury, these designations will create new incentives for investment in the local area.
Washington state has submitted 99 areas for federal Opportunity Zone 2.0 consideration, which includes four designated locations within Clark County. Federal certification of these sites remains pending.
The players
Bob Ferguson
The Governor of Washington who announced the state's latest round of federal program nominations.
Port of Camas-Washougal
An industrial and economic hub that collaborated on the nomination to attract private investment to its grounds.
Columbia River Economic Development Council
A regional organization that works to facilitate local economic growth and development projects.
The details
City staff, working alongside the Port of Camas-Washougal and the Columbia River Economic Development Council, secured the nomination for a specific census tract that encompasses downtown Washougal, the Addy Street neighborhood, and the Port of Camas-Washougal industrial park. By placing these areas into the federal program, local officials aim to attract private investment dollars that could revitalize industrial and residential zones. The final approval rests with the U.S. Department of the Treasury.
Timeline
2018: The original Opportunity Zones program was established.
Oct. 8: Gov. Bob Ferguson announced the 99 statewide nominations.
Jan. 1: New designations are scheduled to take effect.
Money Landscape
The nomination for Washougal marks a follow-up to the 2018 Opportunity Zones program, which originally sought to use tax incentives to spur investment. This new cycle aims to build on that precedent by targeting additional underserved census tracts for potential capital infusion.
Business owners and property developers in the nominated census tract may see an uptick in interest from private investors once the federal designation is finalized. You should consult with a tax professional to understand how federal investment incentives might impact your specific financial situation.
The takeaway
The move to nominate Washougal for federal designation highlights a push to channel private capital into specific industrial and residential corridors. Property owners and business leaders in the affected census tract should monitor federal certification progress as the program moves toward a Jan. 1 launch.
What happens next
The U.S. Department of the Treasury is expected to review the state's 99 nominations with new designations scheduled to take effect on Jan. 1.
Further reading
For more information on local economic development initiatives, visit Regional Economics.
Source note: This article includes information reported by Camas-Washougal Post-Record.
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