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Sunday, November 17, 2024

EDA awards over $1 million in grants for economic development projects in Orleans Parish in 2020

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The US Economic Development Administration (EDA) awarded $1,761,882 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Orleans Parish.

The largest grant awarded in the county was $1,114,632, to Delgado Community College.

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 parishes in Louisiana in 2020.

Total awarded by parish in Louisiana (2020)
RankParishTotal
1Lincoln Parish$5,592,977
2Orleans Parish$1,761,882
3Lafayette Parish$550,000

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