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Adobe Stock
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 Virginia Small Business Financing Authority received the largest EDA grant for funding an economic development project in the state.
Grants awarded around Virginia in 2020
| Grantee Name | Total EDA Project Funding | Grant Award Date |
|---|---|---|
| Virginia Small Business Financing Authority | $10,260,920 | July 24 |
| Franklin County | $4,697,215 | Sept. 28 |
| Newport News - Department of Development | $1,596,000 | July 24 |
| Pulaski | $1,250,000 | Sept. 3 |
| Roanoke - The Blacksburg Innovation Network | $982,443 | Sept. 16 |
| Cumberland Plateau Planning District Commission | $770,000 | July 24 |
| Lynchburg | $726,000 | July 24 |
| Norfolk | $549,900 | July 24 |
| Patrick Henry Community College | $458,296 | Dec. 16 |
| Breaks Regional Airport Authority | $120,000 | Nov. 30 |
| Northern Neck Planning District Commission | $70,000 | Mar. 4 |
| West Piedmont Planning District Commission | $70,000 | Mar. 4 |
| New River Valley Regional Commission | $70,000 | May 28 |
| Crater Planning District Commission | $70,000 | May 28 |
| Southside Planning District Commissions | $70,000 | June 1 |
| Lenowisco Planning District Commission | $70,000 | Dec. 17 |
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