Adobe Stock
Adobe Stock
The U.S. Economic Development Administration offered the following description of this project:
"As part of EDA's CARES Act Recovery Assistance, this investment capitalizes a $3,412,500 Revolving Loan Fund (RLF) to lend to borrowers in the following geographic region: the state of Washington. This EDA investment also provides $437,500 to defray the cost of administering the RLF. The RLF will operate with an additional $962,500 in local matching funds. The EDA investment will alleviate sudden and severe economic dislocation caused by the coronavirus (COVID-19) pandemic, provide permanent resources to support economic resiliency, and further the long-term economic adjustment objectives of the region served by this EDA investment."
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 EDA is a federal government agency that focuses exclusively on economic development.The agency solicits applications for funding in order to support construction, non-construction planning, technical assistance, and revolving loan fund projects under the agency's Public Works and the Economic Adjustment Assistance (EAA) programs. Grants made under these programs are designed to advance economic development in distressed communities.
| Grantee Name | Total Project Funding | Grant Award Date |
|---|---|---|
| Washington | $15,000,000 | Sept. 28 |
| Long Beach | $11,200,000 | Feb. 26 |
| Camas-Washougal | $7,000,000 | Sept. 28 |
| Stevenson | $5,068,000 | Sept. 25 |
| Hermiston | $2,924,000 | Sept. 8 |
| Idaho State University | $2,839,941 | Feb. 5 |
| Orange Cove | $2,428,500 | July 28 |
| Spokane Tribe of Indians | $1,800,000 | July 24 |
| Odessa | $1,632,007 | Apr. 22 |
| Coquille Indian Tribe | $1,561,074 | Nov. 25 |
| Kenai Peninsula Economic Development District | $800,000 | Dec. 7 |
| Willamette Partnership | $596,087 | Sept. 2 |
| Northern Arizona University | $437,588 | Sept. 28 |
| North Olympic Peninsula Resource Conservation and Development Council | $420,000 | May 5 |
| Greater Eastern Oregon Development Corporation | $375,000 | Aug. 24 |
| St. Paul | $227,922 | Sept. 24 |
| Napa | $189,675 | Dec. 8 |
| Alaska Native Heritage Center | $189,428 | Dec. 22 |
| Clarkston | $110,000 | Feb. 13 |
Alerts Sign-up