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Wednesday, December 4, 2024

EDA Regional office of Austin awards grant to Garfield County Industrial Authority

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The EDA Regional office of Austin awarded an Opportunity Zone grant to the Garfield County Industrial Authority on June 15, 2020 with a total project amount of $1,025,394 from the US Economic Development Administration.

The U.S. Economic Development Administration offered the following description of this project:

"This EDA investment supports the Garfield County Industrial Authority with expanding the Garfield County Industrial Park to meet the critical need for more business capacity in Enid, Oklahoma. The project will expand water, wastewater, and road infrastructure in the existing industrial park located near designated Opportunity Zones, which will promote manufacturing, increase business resiliency, and help strengthen the local economy."

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 EDA is a federal government agency that focuses exclusively on economic development.The agency solicits applications for funding in order to support construction, non-construction planning, technical assistance, and revolving loan fund projects under the agency's Public Works and the Economic Adjustment Assistance (EAA) programs. Grants made under these programs are designed to advance economic development in distressed communities.

Other grants awarded out of the EDA Regional office of Austin in 2020
Grantee NameTotal Project FundingGrant Award Date
Muskogee City - County Port Authority$6,550,000July 15
Ruston$4,467,977Aug. 20
Tulsa County$3,750,000Apr. 21
Ardmore Development Authority$3,218,670Sept. 28
University of Arkansas Pulaski Technical College$3,153,230Sept. 28
Hidalgo$3,125,000Apr. 22
Newport$3,125,000Sept. 28
Levelland$3,068,952Sept. 14
Abilene$2,625,000Sept. 28
Pulaski County$2,560,636Aug. 11
Citizen Potawatomi Nation$2,500,000May 20
Jonesboro$2,500,000Sept. 28
Fayetteville$2,500,000Sept. 28
Southeast Arkansas Economic Development District (SEAEDD)$2,399,000May 4
Southeast Arkansas Economic Development District$2,167,000July 23
Corsicana$2,083,333Sept. 2
New Mexico Economic Development Department$1,877,654Sept. 28
Altus$1,850,000Sept. 28
Regents of New Mexico University$1,250,000Sept. 2
Delgado Community College$1,114,632Mar. 2
Hooks$1,062,500July 30
Northwest New Mexico Council of Governments$988,400Sept. 17
Community Venture Foundation$842,000Nov. 2
Santa Fe Business Incubator $800,000July 15
Gallup$750,000Nov. 4
Tyler Economic Development Council$682,000July 24
Northeastern University$647,250June 8
DreamSpring$625,000June 8
Grambling State University$625,000Sept. 28
West Central Arkansas Planning and Development District$550,000July 23
LiftFund$550,000July 24
Sparta Ground Water Conservation District$500,000Aug. 18
Western Arkansas Intermodal Authority$450,000Apr. 16
Homewise, Inc.$357,143June 3

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