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The U.S. Economic Development Administration offered the following description of this project:
"This EDA investment funds the renovation of the Valdosta Area Business Incubator in Lowndes County, Georgia, a designated Opportunity Zone. This project renovates the second and third floors of the incubator, repairs exterior masonry, and replaces the roof in order to provide small business start-ups with space for communications and expansion. Once completed, this project will promote economic growth and development, spur private investment, and create jobs throughout the region."
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 |
|---|---|---|
| Walterboro | $19,590,000 | Apr. 2 |
| Greenville | $16,349,252 | Oct. 22 |
| Clayton | $10,722,780 | July 28 |
| Pembroke | $7,972,490 | Dec. 11 |
| Greenville Utilities Commission | $7,467,000 | Dec. 11 |
| Fair Bluff | $6,000,000 | May 27 |
| Kentucky Community and Technical College System | $4,850,000 | Sept. 28 |
| Carteret County - Beaufort Airport Authority | $4,109,750 | July 22 |
| Dublin | $4,085,045 | Dec. 10 |
| Phenix City | $3,917,111 | Mar. 30 |
| Sampson Community College | $3,236,725 | Feb. 3 |
| South Pittsburg | $2,517,350 | Aug. 10 |
| Downtown Statesboro Development Authority | $2,500,000 | Dec. 10 |
| The University of West Alabama | $2,271,900 | Sept. 28 |
| McCreary County Water District | $2,224,700 | May 27 |
| Baxter | $2,100,000 | Aug. 10 |
| Mountain City | $1,877,000 | Aug. 10 |
| Commonwealth of Kentucky - Department for Local Government | $1,312,500 | May 26 |
| Cheraw | $1,030,140 | Aug. 13 |
| Apalachee Regional Planning Council | $1,000,000 | June 16 |
| Eastern Kentucky Pride Foundation | $952,400 | July 14 |
| Three Roots Capital | $807,000 | Dec. 8 |
| Lowcountry Local First | $736,677 | Mar. 5 |
| Western Piedmont Council of Governments | $420,000 | Jan. 15 |
| Tampa Bay Regional Planning Council | $420,000 | Jan. 30 |
| Regional Planning Commission of Greater Birmingham | $420,000 | Jan. 30 |
| Treasure Coast Regional Planning Council | $420,000 | Jan. 30 |
| Central Alabama Regional Planning and Development Commission | $420,000 | Jan. 30 |
| Santee-Lynches Regional Council of Governments | $400,000 | Aug. 5 |
| Northeast Georgia Regional Commission | $350,000 | Jan. 15 |
| Georgia Mountains Regional Development Commission | $350,000 | Jan. 15 |
| Northwest Alabama Council of Local Governments | $350,000 | Jan. 15 |
| South Central Alabama Development Commission | $350,000 | Jan. 15 |
| Atlanta Regional Commission | $350,000 | Jan. 15 |
| Northeast Florida Regional Council | $350,000 | Jan. 22 |
| Three Rivers Regional Commission | $350,000 | Jan. 30 |
| East Central Florida Regional Planning Council | $350,000 | Jan. 30 |
| The Middle Georgia Regional Commission | $321,429 | Jan. 30 |
| Albemarle Commission | $300,000 | Jan. 15 |
| Northwest Georgia Regional Commission | $300,000 | Jan. 15 |
| Southwestern North Carolina Planning and Economic Development Commission | $300,000 | Jan. 30 |
| Southwest Florida Regional Planning Council | $300,000 | Jan. 30 |
| Apalachee Regional Planning Council | $300,000 | Jan. 30 |
| Southeast Alabama Regional Planning & Development Commission | $300,000 | Jan. 30 |
| Barren River Area Development District | $285,368 | May 26 |
| Central Savannah River Area Regional Commission | $262,500 | Jan. 15 |
| Alabama-Tombigbee Regional Commission | $262,500 | Jan. 15 |
| South Delta Planning and Development District | $262,500 | Jan. 15 |
| Heart of Georgia Altamaha Regional Commission | $262,500 | Jan. 22 |
| North Central Florida Regional Planning Council | $262,500 | Jan. 30 |
| North Delta Planning and Development District | $262,500 | Jan. 30 |
| North Carolina Restaurant and Lodging Association Foundation | $215,144 | Dec. 2 |
| Moultrie-Colquitt County Development Authority | $75,000 | Apr. 9 |
| Myrtle Beach | $75,000 | Apr. 16 |
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