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Myrtle Beach Leader

Friday, November 15, 2024

EDA awards $75,000 in grants for economic development projects in Horry County in 2020

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The US Economic Development Administration (EDA) awarded $75,000 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Horry County.

The only grant awarded in the county was $75,000, to Myrtle Beach.

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 South Carolina in 2020.

Total awarded by county in South Carolina (2020)
RankCountyTotal
1Colleton County$19,590,000
2Chesterfield County$1,030,140
3Charleston County$736,677
4Sumter County$400,000
5Horry County$75,000

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