Hawkeye Reporter

The Economic Development Administration (EDA) issued four grants worth $14,971,635 in 2020 to fund economic development projects through opportunity zones in Iowa.

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 Council Bluffs received the largest EDA grant for funding an economic development project in the state.

Grantee Name	Total EDA Project Funding	Grant Award Date
Council Bluffs	$8,485,749	Aug. 11
Marshalltown	$2,956,849	Sept. 16
Maquoketa	$2,288,800	Sept. 8
Perry	$1,240,237	July 23