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The U.S. Economic Development Administration offered the following description of this project:
"This EDA investment supports the Sioux Falls Development Foundation, Inc., with making water and sewer improvements to allow expansion of the Foundation Park Phase II project in Minnehaha County, South Dakota, near a designated Opportunity Zone. Once completed, the extension will support the construction of a distribution facility, which will help create new employment opportunities, attract private investment, increase resiliency and assist the region with recovery efforts resulting from the economic effects of COVID-19."
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 |
|---|---|---|
| South Sioux City | $24,398,000 | June 18 |
| Bioscience & Technology Business Center | $22,222,200 | Sept. 28 |
| Council Bluffs | $10,607,186 | Aug. 11 |
| Lexington | $10,350,000 | Aug. 11 |
| Northern Wyoming Community College District | $8,554,600 | May 5 |
| Yankton | $8,073,000 | May 4 |
| Colorado Lending Source | $8,000,000 | Dec. 17 |
| Moberly | $6,376,600 | Sept. 28 |
| Regents of the University of Colorado | $5,500,000 | Apr. 27 |
| Marshalltown | $5,008,610 | Sept. 16 |
| Maquoketa | $2,861,000 | Sept. 8 |
| Forward Cody Wyoming | $2,765,540 | Sept. 28 |
| Perry | $2,480,475 | July 23 |
| Cox College | $2,352,402 | Nov. 19 |
| Montgomery City | $2,108,403 | Dec. 10 |
| Pemiscot County Port Authority | $2,079,428 | Sept. 28 |
| NDSU Research & Technology Park | $2,000,400 | Mar. 17 |
| Pittsburg State University | $1,985,000 | Dec. 29 |
| South Eastern Development Foundation | $1,000,000 | Apr. 2 |
| West River Foundation for Economic and Community Development | $1,000,000 | May 13 |
| Excelsior Springs | $1,000,000 | June 22 |
| Northeast Council of Governments | $625,000 | Mar. 2 |
| University of Utah | $549,804 | Oct. 20 |
| South St. Joseph Industrial Sewer District | $471,400 | Sept. 23 |
| Doniphan | $308,120 | May 14 |
| Lake County Community Development Corporation | $120,000 | Sept. 8 |
| Northern Rocky Mountain Economic Development District | $104,000 | May 5 |
| Greater Poplar Bluff Area Chamber of Commerce | $99,750 | Jan. 9 |
| Evanston | $87,500 | Sept. 29 |
| Urban League of Metropolitan St. Louis | $45,000 | Dec. 16 |
| Cheyenne County | $40,000 | May 5 |
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