The City of Elyria has secured three federal Opportunity Zone 2.0 designations, opening new opportunities for private investment and economic growth across the community.
All three areas proposed by Elyria were selected following a competitive statewide review by the Ohio Department of Development. The designations cover portions of downtown Elyria, the Midway Mall corridor, and the area near Leo Bullocks Drive.
The federal Opportunity Zones 2.0 program provides tax incentives to encourage private investment in designated communities. These incentives give Elyria an additional advantage in attracting investment for housing, commercial redevelopment, and business expansion.
The three areas represent a wide range of opportunities for future growth, including commercial redevelopment, new housing, and industrial development. The designations will support the City’s comprehensive plan and ongoing economic development efforts.
“Having all three of our areas selected is a huge win for Elyria,” said Mayor Kevin Brubaker. “This gives us another important tool to attract investment and create more opportunities for our residents. We’re grateful to the State of Ohio for recognizing the potential here in Elyria, and I’m excited about what this means for our future.”
The new Opportunity Zone 2.0 designations take effect January 1, 2027.