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Western South Dakota News

Sunday, December 29, 2024

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

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The US Economic Development Administration (EDA) awarded $3,394,150 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Minnehaha County.

The largest grant awarded in the county was $2,394,150, to Sioux Falls Development Foundation, Inc.

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 South Dakota in 2020.

Total awarded by county in South Dakota (2020)
RankCountyTotal
1Yankton County$8,073,000
2Minnehaha County$3,394,150
3Meade County$1,000,000
4Brown County$625,000

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