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Monday, November 25, 2024

EDA awards over $10 million in grants for economic development projects in Lafayette County in 2020

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The US Economic Development Administration (EDA) awarded $10,350,000 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Lafayette County.

The only grant awarded in the county was $10,350,000, to Lexington.

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 Missouri in 2020.

Total awarded by county in Missouri (2020)
RankCountyTotal
1Lafayette County$10,350,000
2Randolph County$6,376,600
3St. Louis County$3,337,602
4Greene County$2,352,402
5Montgomery County$2,108,403
6Pemiscot County$2,079,428
7Clay County$1,000,000
8Buchanan County$471,400
9Ripley County$308,120
10Butler County$99,750
11St. Louis city$45,000

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