The U.S. Treasury and IRS have certified Nevada's Opportunity Zone. The federal program promotes private investment into low-income communities, and offers three different tax incentives to those who invest. 

After being notified of the certification, Governor Brian Sandoval released this statement: 
 
“I am incredibly pleased that Nevada’s Opportunity Zone designations have been certified by the U.S. Department of the Treasury and the Internal Revenue Service. As I’ve stated previously, during my Administration we have made significant investments throughout our state, but more work remains to be done. Today’s announcement not only encourages private investment in areas of Nevada that are most in need, it will also kick start construction of affordable housing projects – a priority of my Administration – across the state. 
 
“From Southern Nevada to Northern Nevada and areas in between, the certification of Nevada’s designated Opportunity Zones will benefit communities big and small. I applaud the Trump Administration and Congress for supporting The Tax Cuts and Jobs Act earlier this year.
 
“Today’s certification is another step in continuing to build the new Nevada and I thank the Governor’s Office of Economic Development and my staff for their diligent work on this issue.”

"It could be a temporary deferral of taxes, a step up in basis, and then in some instances a permanent exclusion from taxes on those investments,” said Cory Hunt, Deputy Director with the Governor’s Office of Economic Development.

The investments could include anything from affordable housing, to retail, to expansions of existing businesses and more.

"It really provides a great opportunity to take unrealized capital gains where there are some estimates across the country where this program is being rolled out; it could be upwards of $6 trillion that could be available through this program,” said Cory Hunt, Deputy Director with the Governor’s Office of Economic Development.

There were more than 240 eligible tracts across Nevada, but with the help of public comment, the governor may nominate up to 61 of these areas to qualify as an opportunity zone.

"Things like the poverty rate in those census tracts and the mortgage rates and the amount of investment that's going into that region already, so we want to do the most good, for the most number of people,” said Hunt. “It could have a tremendous impact in the state of Nevada as well as across the country."