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Kent County Today

Thursday, November 21, 2024

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

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The US Economic Development Administration (EDA) awarded $4,791,166 total in Opportunity Zone grants in 2020 in order to fund economic development projects in New Castle County.

The largest grant awarded in the county was $2,976,166, to Delaware Innovation Space.

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 Delaware in 2020.

Total awarded by county in Delaware (2020)
RankCountyTotal
1New Castle County$4,791,166

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