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Friday, November 22, 2024

EDA awards over $4 million in grants for economic development projects in Jefferson County in 2020

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The US Economic Development Administration (EDA) awarded $4,566,000 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Jefferson County.

The largest grant awarded in the county was $2,399,000, to Southeast Arkansas Economic Development District (SEAEDD).

According to the Internal Revenue Service, opportunity zones were added to the tax code under The Tax Cuts and Jobs Act of 2017. The bill has come under some criticism for creating another big tax break for the ultra-wealthy.

The following table shows how much the EDA invested in projects in all counties in Arkansas in 2020.

Total awarded by county in Arkansas (2020)
RankCountyTotal
1Pulaski County$5,713,866
2Jefferson County$4,566,000
3Washington County$3,342,000
4Jackson County$3,125,000
5Craighead County$2,500,000
6Garland County$550,000
7Crawford County$450,000

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