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Thursday, November 21, 2024

EDA Regional office of Denver awards grant to Doniphan

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The EDA Regional office of Denver awarded an Opportunity Zone grant to Doniphan on May 14, 2020 with a total project amount of $308,120 from the US Economic Development Administration.

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

"The EDA investment supports the city of Doniphan with improving infrastructure and stabilizing the Quick Creek bank to address the local and regional need for flood mitigation in Ripley County, Missouri, a designated Opportunity Zone. The improvements will help maintain business continuity and attract future investment by protecting the value of the area and reducing risks associated with major flood events, which will strengthen the region's economic resiliency and create jobs for long-term economic stability."

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 Denver in 2020
Grantee NameTotal Project FundingGrant Award Date
South Sioux City$24,398,000June 18
Bioscience & Technology Business Center$22,222,200Sept. 28
Council Bluffs$10,607,186Aug. 11
Lexington$10,350,000Aug. 11
Northern Wyoming Community College District$8,554,600May 5
Yankton$8,073,000May 4
Colorado Lending Source$8,000,000Dec. 17
Moberly$6,376,600Sept. 28
Regents of the University of Colorado$5,500,000Apr. 27
Marshalltown$5,008,610Sept. 16
Maquoketa$2,861,000Sept. 8
Forward Cody Wyoming$2,765,540Sept. 28
Perry$2,480,475July 23
Sioux Falls Development Foundation, Inc.$2,394,150Sept. 28
Cox College$2,352,402Nov. 19
Montgomery City$2,108,403Dec. 10
Pemiscot County Port Authority$2,079,428Sept. 28
NDSU Research & Technology Park$2,000,400Mar. 17
Pittsburg State University$1,985,000Dec. 29
South Eastern Development Foundation$1,000,000Apr. 2
West River Foundation for Economic and Community Development$1,000,000May 13
Excelsior Springs$1,000,000June 22
Northeast Council of Governments$625,000Mar. 2
University of Utah$549,804Oct. 20
South St. Joseph Industrial Sewer District$471,400Sept. 23
Lake County Community Development Corporation$120,000Sept. 8
Northern Rocky Mountain Economic Development District$104,000May 5
Greater Poplar Bluff Area Chamber of Commerce$99,750Jan. 9
Evanston$87,500Sept. 29
Urban League of Metropolitan St. Louis$45,000Dec. 16
Cheyenne County$40,000May 5

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