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Saturday, November 23, 2024

EDA Regional office of Seattle awards grant to Idaho State University

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The EDA Regional office of Seattle awarded an Opportunity Zone grant to Idaho State University on Feb. 5, 2020 with a total project amount of $2,839,941 from the US Economic Development Administration.

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

"This EDA investment supports the Idaho State University with construction, renovation, and expansion of an existing infrastructure to establish the Onsite Power Generation and Systems Technical Education and Training Facility in Bannock County, Idaho, near a designated Opportunity Zone. The new technical education and training facility will offer courses on building, maintaining, and repairing power generation systems to help produce highly skilled technicians. The project will promote higher paying employment opportunities, promote economic diversification, and support economic growth throughout the region."

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 Seattle in 2020
Grantee NameTotal Project FundingGrant Award Date
Washington$15,000,000Sept. 28
Long Beach$11,200,000Feb. 26
Camas-Washougal$7,000,000Sept. 28
Stevenson$5,068,000Sept. 25
NDC Economic Development Lending, Inc.$4,812,500Sept. 28
Hermiston$2,924,000Sept. 8
Orange Cove$2,428,500July 28
Spokane Tribe of Indians$1,800,000July 24
Odessa$1,632,007Apr. 22
Coquille Indian Tribe$1,561,074Nov. 25
Kenai Peninsula Economic Development District$800,000Dec. 7
Willamette Partnership$596,087Sept. 2
Northern Arizona University$437,588Sept. 28
North Olympic Peninsula Resource Conservation and Development Council$420,000May 5
Greater Eastern Oregon Development Corporation$375,000Aug. 24
St. Paul$227,922Sept. 24
Napa$189,675Dec. 8
Alaska Native Heritage Center$189,428Dec. 22
Clarkston$110,000Feb. 13

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