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Burlington Standard

Wednesday, December 25, 2024

EDA awards $550,000 in grants for economic development projects in Chittenden County in 2020

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The US Economic Development Administration (EDA) awarded $550,000 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Chittenden County.

The only grant awarded in the county was $550,000, to Burlington Electric Department.

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 Vermont in 2020.

Total awarded by county in Vermont (2020)
RankCountyTotal
1Washington County$1,056,000
2Windsor County$690,000
3Chittenden County$550,000

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