Washougal included in state’s Opportunity Zones nominations

Washougal has been included in Washington’s nominations for a federal program designed to encourage private investment in underserved communities.
The area, identified as U.S. Census Bureau tract No. 040507, includes the Addy Street neighborhood, downtown Washougal, and the Port of Camas-Washougal’s industrial park. It is one of four Clark County areas among 99 statewide nominations announced Oct. 8 by Gov. Bob Ferguson.
The Opportunity Zones 2.0 program offers tax incentives to eligible investors who invest in qualifying businesses and real estate in designated areas. Potential benefits for Washougal could include new housing, expanded local businesses, neighborhood-serving shops and restaurants, and additional jobs.
City of Washougal staff worked with the Port of Camas-Washougal and the Columbia River Economic Development Council to pursue the designation.
The nomination does not guarantee investment or development. The U.S. Department of the Treasury will review and certify the nominated areas, with new designations scheduled to take effect Jan. 1.
Washougal previously had two census tracts included in the original Opportunity Zones program, established in 2018, but those designations did not lead to significant investment or development in the city.