Since its inception in 2017, the qualified opportunity zone program has attracted substantial investment. In surveys, qualified opportunity funds, the investment vehicles for qualified opportunity zone projects, have reported raising more than $40 billion in equity as of year-end 2024. This figure represents as little as one-third of the total capital raised by qualified opportunity funds, implying well above $120 billion in actual investment. This estimate far exceeds early projections, indicating strong investor appetite.

The positive economic impact of this investment is increasingly evident. Qualified opportunity fund (QOF) dollars flow directly into underserved areas, financing businesses and real estate developments that increase housing supply, create jobs and spur local economic activity. The influx of investment supports thousands of projects, from housing to business development, with tangible socio-economic benefits observed across urban and rural opportunity zones