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South Cumberland News

Monday, September 30, 2024

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

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The US Economic Development Administration (EDA) awarded $2,517,350 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Marion County.

The only grant awarded in the county was $2,517,350, to South Pittsburg.

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 Tennessee in 2020.

Total awarded by county in Tennessee (2020)
RankCountyTotal
1Marion County$2,517,350
2Putnam County$2,100,000
3Johnson County$1,877,000
4Knox County$807,000

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