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Mohawk Valley Times

Sunday, December 22, 2024

EDA awards $140,000 in grants for economic development projects in Herkimer County in 2020

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The US Economic Development Administration (EDA) awarded $140,000 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Herkimer County.

The only grant awarded in the county was $140,000, to Mohawk Valley Economic Development District.

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 New York in 2020.

Total awarded by county in New York (2020)
RankCountyTotal
1Steuben County$4,021,484
2New York County$2,000,000
3Albany County$140,000
3Broome County$140,000
3Herkimer County$140,000
3Onondaga County$140,000
7Franklin County$47,000

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