The Economic Development Administration (EDA) issued two grants worth $124,000 in 2020 to fund economic development projects through opportunity zones in Montana.
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 the Lake County Community Development Corporation received the largest EDA grant for funding an economic development project in the state.
Grants awarded around Montana in 2020
| Grantee Name | Total EDA Project Funding | Grant Award Date |
|---|---|---|
| Lake County Community Development Corporation | $72,000 | Sept. 8 |
| Northern Rocky Mountain Economic Development District | $52,000 | May 5 |
