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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.
Pembroke received the largest EDA grant for funding an economic development project in the state.
Grants awarded around North Carolina in 2020
| Grantee Name | Total EDA Project Funding | Grant Award Date |
|---|---|---|
| Pembroke | $6,377,992 | Dec. 11 |
| Clayton | $6,000,000 | July 28 |
| Fair Bluff | $4,800,000 | May 27 |
| Greenville Utilities Commission | $4,500,000 | Dec. 11 |
| Carteret County - Beaufort Airport Authority | $3,287,800 | July 22 |
| Sampson Community College | $2,589,380 | Feb. 3 |
| Albemarle Commission | $210,000 | Jan. 15 |
| Western Piedmont Council of Governments | $210,000 | Jan. 15 |
| Southwestern North Carolina Planning and Economic Development Commission | $210,000 | Jan. 30 |
| North Carolina Restaurant and Lodging Association Foundation | $172,115 | Dec. 2 |
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