Sen. Thompson Celebrates Edmond’s Investment Ready Projects, Workforce Housing Opportunities Through Opportunity Zone Designation

OKLAHOMA CITY – Sen. Kristen Thompson, R-Edmond, is celebrating Edmond’s selection for federal Opportunity Zone designation, and thanked Gov. Kevin Stitt for securing the designation for Edmond.

The State of Oklahoma has 413 federally eligible tracts, but federal law only allows the governor to nominate no more than 104. Edmond received three of those.

Three Edmond census tracts were chosen for the program, which encourages long term private investment in eligible areas. The designations reflect opportunities to advance housing, mixed use development, and downtown revitalization. Together, the three tracts connect Edmond’s institutional anchor, downtown core, housing need, workforce access, corridor reinvestment and future transit-oriented development readiness into one investment geography.

Thompson said communities with investment ready projects are better positioned to attract private investment, including for needed workforce housing.

“Edmond has opportunities to continue growing and being investment ready puts us in a stronger position to attract the private investment needed to make those projects a reality,” Thompson said. “Workforce housing is an important part of that growth. We need housing options that allow people to live near their jobs, help employers attract and retain workers, and give families the opportunity to build a future in our community.”

Across all three tracts, the project pipeline represents an estimated $360.5 million in planned private investment and approximately $285.8 million in anticipated public and private investment already completed.

Federal Opportunity Zones offer tax incentives for qualifying investments made through Qualified Opportunity Funds, helping communities attract capital for housing, redevelopment, and economic growth. The renewed program is scheduled to take effect Jan. 1, 2027, with designations lasting 10 years pending U.S. Department of the Treasury certification.

For more information about Oklahoma’s Federal Opportunity Zones, visit www.okcommerce.gov.