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The U.S. Economic Development Administration offered the following description of this project:
"This EDA investment funds rail infrastructure improvements at the City of Jonesboro Industrial Park to expand the flow of rail traffic through the park, commercial, and surrounding area in Craighead, Arkansas, a designated Opportunity Zone. The project will construct additional storage tracks and relocate a rail switch, which supports the advancement of the manufacturing industry within the region. Once completed, the project will create and save jobs, attract private investment, and strengthen the regional economy."
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.
| Grantee Name | Total Project Funding | Grant Award Date |
|---|---|---|
| Muskogee City - County Port Authority | $6,550,000 | July 15 |
| Ruston | $4,467,977 | Aug. 20 |
| Tulsa County | $3,750,000 | Apr. 21 |
| Ardmore Development Authority | $3,218,670 | Sept. 28 |
| University of Arkansas Pulaski Technical College | $3,153,230 | Sept. 28 |
| Hidalgo | $3,125,000 | Apr. 22 |
| Newport | $3,125,000 | Sept. 28 |
| Levelland | $3,068,952 | Sept. 14 |
| Abilene | $2,625,000 | Sept. 28 |
| Pulaski County | $2,560,636 | Aug. 11 |
| Citizen Potawatomi Nation | $2,500,000 | May 20 |
| Fayetteville | $2,500,000 | Sept. 28 |
| Southeast Arkansas Economic Development District (SEAEDD) | $2,399,000 | May 4 |
| Southeast Arkansas Economic Development District | $2,167,000 | July 23 |
| Corsicana | $2,083,333 | Sept. 2 |
| New Mexico Economic Development Department | $1,877,654 | Sept. 28 |
| Altus | $1,850,000 | Sept. 28 |
| Regents of New Mexico University | $1,250,000 | Sept. 2 |
| Delgado Community College | $1,114,632 | Mar. 2 |
| Hooks | $1,062,500 | July 30 |
| Garfield County Industrial Authority | $1,025,394 | June 15 |
| Northwest New Mexico Council of Governments | $988,400 | Sept. 17 |
| Community Venture Foundation | $842,000 | Nov. 2 |
| Santa Fe Business Incubator | $800,000 | July 15 |
| Gallup | $750,000 | Nov. 4 |
| Tyler Economic Development Council | $682,000 | July 24 |
| Northeastern University | $647,250 | June 8 |
| DreamSpring | $625,000 | June 8 |
| Grambling State University | $625,000 | Sept. 28 |
| West Central Arkansas Planning and Development District | $550,000 | July 23 |
| LiftFund | $550,000 | July 24 |
| Sparta Ground Water Conservation District | $500,000 | Aug. 18 |
| Western Arkansas Intermodal Authority | $450,000 | Apr. 16 |
| Homewise, Inc. | $357,143 | June 3 |
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