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Adobe Stock
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 only project to receive EDA funding in the state was awarded to NDSU Research & Technology Park. A short project description is listed below.
"This EDA investment funds the acquisition of tools and equipment necessary for a newly retrofitted makerspace at North Dakota State University Research and Technology Park in Fargo County, North Dakota. This project will help the region recover from the Spring Floods of 2019 and reinforce the need for regional economic diversification by providing a space for students, members of the public, and clients of a nearby incubator to test the technical viability of their ideas. Once completed, the project will support the development of a more diversified agricultural technology driven ecosystem with an emphasis on entrepreneurship, which will strengthen the regional economy, support private investments, and create jobs."
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