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Tuesday, November 5, 2024

EDA awards over $3 million in grants for economic development projects in Beltrami County in 2020

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The US Economic Development Administration (EDA) awarded $3,943,505 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Beltrami County.

The largest grant awarded in the county was $3,376,765, to Red Lake Band of Chippewa Indians.

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 Minnesota in 2020.

Total awarded by county in Minnesota (2020)
RankCountyTotal
1Beltrami County$3,943,505
2Carlton County$1,530,907
3Cass County$199,400

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