Qualified Opportunity Zones (QOZs) are a program created by the U.S. government in 2017 under the Tax Cuts and Jobs Act to encourage economic development and job creation in economically distressed areas. The QOZ program is intended to attract private investment into low-income communities in order to help revitalize them and create jobs. The program is administered by the U.S. Department of the Treasury and the Internal Revenue Service (IRS).