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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.
NDC Economic Development Lending, Inc. received the largest EDA grant for funding an economic development project in the state.
Grants awarded around New York in 2020
| Grantee Name | Total EDA Project Funding | Grant Award Date |
|---|---|---|
| NDC Economic Development Lending, Inc. | $3,850,000 | Sept. 28 |
| Southern Tier Network | $1,552,593 | Apr. 23 |
| Yeshiva University | $1,400,000 | Apr. 23 |
| Southern Tier Central Regional Planning and Development Board | $70,000 | Mar. 4 |
| Capital District Regional Planning Commission | $70,000 | May 28 |
| Southern Tier East Regional Planning Development Board | $70,000 | Dec. 16 |
| Mohawk Valley Economic Development District | $70,000 | Dec. 16 |
| Central New York Regional Planning and Development Board | $70,000 | Dec. 17 |
| Saint Regis Mohawk Tribe | $47,000 | May 28 |
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