Illinois Opportunity Zones
Illinois supports federal Opportunity Zone investments through DCEO discretionary grants (Regional Site Readiness, OZ capital grants) and scoring preference for projects in designated zones. A new round of IL-nominated zones takes effect January 1, 2027 under OZ 2.0.
Check an Address — Free Snapshot
See whether a specific Chicago address sits inside the area that unlocks Illinois Opportunity Zones, alongside every other incentive that touches that parcel.
Investors deploying capital gains through QOFs in Illinois-designated zones, and developers/businesses seeking DCEO discretionary support for OZ projects (especially affordable housing).
Illinois Opportunity Zones is tied to the Opportunity Zone (Federal & State) geography — being inside that boundary is the first eligibility gate. A single address can fall inside several overlapping incentive areas at once.
Boundaries are precise and change over time, so exact eligibility always depends on the specific address. The fastest way to know is to run a free snapshot for the parcel you have in mind.
Typical range · DCEO grants + federal OZ stacking
- +DCEO discretionary grants and scoring preference for OZ projects
- +Stacks with federal OZ tax benefits
- +Additional state support for affordable housing projects in OZs
- 1Follow federal QOF requirements
- 2Contact Illinois DCEO for state OZ grants and scoring preferences
- 3Watch for OZ 2.0 IL nominations (effective 1/1/2027)
Email opportunityzones@illinois.gov or call DCEO (217) 782-7500
- Federal QOF certification
- Illinois income tax returns
- Investment documentation
- Property/business records in OZ census tracts
This page is a starting point, not eligibility, legal, or tax advice. Verify current requirements, deadlines, and boundaries with the administering agency before applying or spending money — program rules and funding change over time.
- Phone
- (217) 782-7500
- Web
- Visit site ↗
Last verified 2026-05-21
Illinois Enterprise Zones offer state and local tax incentives to stimulate economic growth in economically depressed areas, including sales tax exemptions on building materials, utility tax exemptions, and investment tax credits.
The Economic Development for a Growing Economy (EDGE) program provides Illinois income tax credits against state withholding for businesses that create or retain jobs. Amended by HB2755 / P.A. 104-0006 (June 2025) to expand withholding-credit elections and require 10-day public posting of EDGE agreement terms.
REV Illinois (Reimagining Electric Vehicles in Illinois) provides project-by-project tax credits for businesses in the electric vehicle and renewable energy supply chain. Negotiated with DCEO across four investment/job tiers.
MICRO (Manufacturing Illinois Chips for Real Opportunity) supports semiconductor and microchip-related businesses with income tax credits, training, and infrastructure support. Codified at 35 ILCS 45.