U.S. Economic Development Administration Adds OZs as Investment Priority

Thursday, June 13, 2019 - 12:15pm

The U.S. Economic Development Administration (EDA) announced Wednesday that it is adding opportunity zones (OZ) as an investment priority. The EDA has invested nearly $30 million in OZs already, but making OZs an investment priority increases the number of projects that can receive EDA grants–which apply to planning, technical assistance and infrastructure construction. There is a maximum award of $3 million through EDA grants. The EDA announcement said the OZ investments will focus on planning and implementation projects aimed at attracting private investment to grow businesses and create jobs in OZs–including investments that may not be in an OZ, but benefit an OZ. With this announcement, the OZ investment priority immediately applies to most existing EDA funding notices.