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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.
Phenix City received the largest EDA grant for funding an economic development project in the state.
Grants awarded around Alabama in 2020
| Grantee Name | Total EDA Project Funding | Grant Award Date |
|---|---|---|
| Phenix City | $1,958,555 | Mar. 30 |
| The University of West Alabama | $1,731,900 | Sept. 28 |
| Alabama-Tombigbee Regional Commission | $210,000 | Jan. 15 |
| Northwest Alabama Council of Local Governments | $210,000 | Jan. 15 |
| South Central Alabama Development Commission | $210,000 | Jan. 15 |
| Regional Planning Commission of Greater Birmingham | $210,000 | Jan. 30 |
| Central Alabama Regional Planning and Development Commission | $210,000 | Jan. 30 |
| Southeast Alabama Regional Planning & Development Commission | $210,000 | Jan. 30 |
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