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Thursday, November 21, 2024

EDA awards over $7 million in grants for economic development projects in Pitt County in 2020

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The US Economic Development Administration (EDA) awarded $7,467,000 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Pitt County.

The only grant awarded in the county was $7,467,000, to Greenville Utilities Commission.

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 North Carolina in 2020.

Total awarded by county in North Carolina (2020)
RankCountyTotal
1Johnston County$10,722,780
2Robeson County$7,972,490
3Pitt County$7,467,000
4Columbus County$6,000,000
5Carteret County$4,109,750
6Sampson County$3,236,725
7Catawba County$420,000
8Jackson County$300,000
8Perquimans County$300,000

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