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The only grant awarded in the county was $140,000, to Midcoast Economic Development 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 Maine in 2020.
Total awarded by county in Maine (2020)
Rank | County | Total |
---|---|---|
1 | Kennebec County | $704,030 |
2 | Penobscot County | $414,431 |
3 | Androscoggin County | $140,000 |
3 | Cumberland County | $140,000 |
3 | Lincoln County | $140,000 |