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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.
Yankton received the largest EDA grant for funding an economic development project in the state.
Grants awarded around South Dakota in 2020
| Grantee Name | Total EDA Project Funding | Grant Award Date |
|---|---|---|
| Yankton | $6,458,400 | May 4 |
| Sioux Falls Development Foundation, Inc. | $1,915,320 | Sept. 28 |
| South Eastern Development Foundation | $800,000 | Apr. 2 |
| West River Foundation for Economic and Community Development | $800,000 | May 13 |
| Northeast Council of Governments | $500,000 | Mar. 2 |
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