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Bridgeport Times

Friday, November 22, 2024

EDA awards over $2 million in grants for economic development projects in New London County in 2020

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The US Economic Development Administration (EDA) awarded $2,076,000 total in Opportunity Zone grants in 2020 in order to fund economic development projects in New London County.

The largest grant awarded in the county was $1,936,000, to the Southeastern Connecticut Enterprise Region Corporation.

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 Connecticut in 2020.

Total awarded by county in Connecticut (2020)
RankCountyTotal
1New Haven County$3,465,000
2New London County$2,076,000
3Litchfield County$139,409

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