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East Pennyroyal News

Tuesday, April 1, 2025

EDA awards over $2 million in grants for economic development projects in McCreary County in 2020

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The US Economic Development Administration (EDA) awarded $2,224,700 total in Opportunity Zone grants in 2020 in order to fund economic development projects in McCreary County.

The only grant awarded in the county was $2,224,700, to McCreary County Water District.

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 Kentucky in 2020.

Total awarded by county in Kentucky (2020)
RankCountyTotal
1Perry County$4,850,000
2McCreary County$2,224,700
3Franklin County$1,312,500
4Pulaski County$952,400
5Warren County$285,368

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