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Friday, November 15, 2024

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

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The US Economic Development Administration (EDA) awarded $4,812,500 total in Opportunity Zone grants in 2020 in order to fund economic development projects in King County.

The only grant awarded in the county was $4,812,500, to NDC Economic Development Lending, Inc.

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 Washington in 2020.

Total awarded by county in Washington (2020)
RankCountyTotal
1Thurston County$15,000,000
2Clark County$7,000,000
3Skamania County$5,068,000
4King County$4,812,500
5Stevens County$1,800,000
6Lincoln County$1,632,007
7Clallam County$420,000
8Asotin County$110,000

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