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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.
Atlantic City received the largest EDA grant for funding an economic development project in the state.
Grants awarded around New Jersey in 2020
| Grantee Name | Total EDA Project Funding | Grant Award Date |
|---|---|---|
| Atlantic City | $2,450,000 | Sept. 1 |
| South Jersey Economic Development District | $70,000 | Mar. 4 |
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