​​​​​​​​​​​​​​​​​​​​​​​Opportunity Zones​​​

Virginia Beach has eight Opportunity Zones that are uniquely positioned and ready for investment and growth.

​What is an Opportunity Zone?
Opportunity Zones, created as a result of the Federal Tax Cuts and Jobs Act of  2017,  are designed to encourage long-term​ investments in designated portions of a community.  Tax incentives are provided to investors who re-invest their unrealized capital gains into one of the designated zones.  ​

Virginia Beach Opportunity Zones
Virginia Beach has eight (8) designated Oppor​tunity Zones.


A city map that includes Strategic Growth Areas (SGAs) and Opportunity Zones can be downloaded here:
OZ and SGA Map​​​

 Open House

​On February 20, 2019, the City of Virginia Beach held an Open House event to allow subject matter experts to explain the intricacies of Opportunity Zones and take questions from the audience.  Below is a video of the event, along with a list of those in attendance.

Opportunity Zone Open House Presentation


For questions about the event, please contact Ron Berkebile at rberkebi@vbgov.com or (757) 385-2902.

 Property Prospectus

​Below are a series of prospectus documents detailing City owned land in Virginia Beach's Opportunity Zones.  Others will be posted as they are completed, but please contact City Staff for questions or inquiries in any of the Zones.

Zoning ordinances that apply can be found in the document below:

 Zone Reports

​An in-depth look at each of Virginia Beach's eight (8) Opportunity Zones from Enterprise​:

 IRS Guidelines

​The following legislation and regulations were recently released by the Internal Revenue Service:
IRS Codes:

 Investment Example

​Below is an example of savings that could be accrued by investing in an Opportunity Zone.  Please note that this is an illustrative  example only.  We advise you to seek financial and legal advice for specifics on individual investments.

 City Contacts

​Economic Development
David Couch
Business Development Administrator​
(757) 385-6468

Ron Berkebile
Financial Analyst
(757) 385-2902​