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Southeast Allegheny News

Thursday, October 31, 2024

EDA awards over $8 million in grants for economic development projects in Venango County in 2020

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The US Economic Development Administration (EDA) awarded $8,425,091 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Venango County.

The largest grant awarded in the county was $5,409,091, to Northwest PA Regional Planning & Development Commission.

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 Pennsylvania in 2020.

Total awarded by county in Pennsylvania (2020)
RankCountyTotal
1Allegheny County$9,371,855
2Philadelphia County$8,458,000
3Venango County$8,425,091
4Lycoming County$7,000,000
5Union County$6,325,000
6Blair County$4,320,000
7Cambria County$3,900,000
8Luzerne County$2,728,000
9Bucks County$2,455,600
10Elk County$2,076,000
11Indiana County$1,353,000
12Clinton County$785,450

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