Port of Moses Lake Welcomes Federal Opportunity Zone Renewal Nomination to Spur Investment and Growth
Moses Lake, WA - October 13, 2026: The Port of Moses Lake welcomes the renewal nomination of Census Tract 53025010800, northwest Moses Lake, from the Federal Opportunity Zone 1.0 to the 2.0 program, announced by Governor Bob Ferguson on October 8, 2026 . If certified by the U.S. Treasury Department, the designation could encourage more private investment in the Moses Lake tract with the increase in added investor benefits.
Opportunity zones are intended to advance economic diversification, modernize infrastructure and strengthen the rural workforce so that investment benefits reach communities and residents. The governor nominated 99 low-income and rural communities across Washington state, including the Moses Lake tract. The nomination recognizes the region’s continued potential and its role as one of Central Washington’s leading industrial and aerospace hubs, centered around Grant County International Airport.
“Going from the Opportunity Zone 1.0 to 2.0 is a step in a great direction for investors,” said Port of Moses Lake Executive Director Dan Roach. “These extra benefits could provide the catalyst needed to turn high-potential projects into real development, bring new capital off the sidelines, and accelerate construction of critical infrastructure and shovel-ready sites.”
Core Tax Incentives of Federal Opportunity Zone 2.0
For investors, placing eligible capital gains in a Qualified Opportunity Fund (QOF) offers three key tax benefits: near-term deferral, a permanent reduction in part of the original tax liability and tax-free qualifying long-term appreciation.
- Rolling five-year capital gains deferral. Eligible gains reinvested in a QOF are deferred until five years after the investment date, replacing the original program’s fixed 2026 deadline.
- Standard and enhanced basis step-up. After five years, part of the original deferred gain is permanently excluded.
- Standard zones: A 10% step-up, taxing 90% of the original gain.
- Rural zones: A 30% step-up through a Qualified Rural Opportunity Fund (QROF).
- Tax-free appreciation. After a 10-year hold, post-acquisition gains are tax-free upon sale, with up to 30 years to step the investment up to fair market value.
Opportunity Zone incentives can support commercial and industrial real estate, housing, infrastructure, and investments in existing or start-up businesses. To qualify, real estate investments generally must result in the property being “substantially improved.”
The U.S. Treasury Department will review and certify state nominations. Certified designations are scheduled to take effect January 1, 2027, giving investors time to prepare strategies and deploy capital in participating communities.
Port Commission President, Stroud Kunkle, said, “This designation aligns directly with our community’s priorities and could take economic development in this Census Tract to the next level. By attracting critical private investment, we can prepare more sites for development, support workforce housing, create family-wage jobs and give businesses the foundation they need to grow. Most importantly, it would help ensure that the Port’s continued growth delivers lasting benefits for residents throughout Moses Lake and the broader Grant County region. We’re grateful for the nomination and the recognition of the tremendous potential here in the Port District, and we eagerly await the outcome of the next steps.”
For more information, contact:
Dan Roach
Executive Director
Port of Moses Lake
Tel: 509-771-6231
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About the Port of Moses Lake:
The Port of Moses Lake serves as an aviation, manufacturing, and technology hub for the Pacific Northwest. Home to Grant County International Airport, one of the largest airports in the Western United States, the Port is surrounded by greenfield land and low population density. Established in 1965, the Port of Moses Lake has connected Central Washington to the world, linking people and products by air, rail, and land, across the globe.
Learn more by going to: www.portofmoseslake.com
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