The Economic Development Administration (EDA) issued three grants worth $889,245 in 2020 to fund economic development projects through opportunity zones in Alaska.
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 Kenai Peninsula Economic Development District received the largest EDA grant for funding an economic development project in the state.
Grants awarded around Alaska in 2020
| Grantee Name | Total EDA Project Funding | Grant Award Date |
|---|---|---|
| Kenai Peninsula Economic Development District | $624,000 | Dec. 7 |
| Alaska Native Heritage Center | $145,245 | Dec. 22 |
| St. Paul | $120,000 | Sept. 24 |
