The US Economic Development Administration (EDA) awarded $3,917,111 total in Opportunity Zone grants in 2020 in order to fund economic development projects in Russell County.
The only grant awarded in the county was $3,917,111, to Phenix City.
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 Alabama in 2020.
Total awarded by county in Alabama (2020)
| Rank | County | Total |
|---|---|---|
| 1 | Russell County | $3,917,111 |
| 2 | Jefferson County | $3,365,000 |
| 3 | Sumter County | $2,271,900 |
| 4 | Montgomery County | $770,000 |
| 5 | Colbert County | $350,000 |
| 6 | Houston County | $300,000 |
| 7 | Wilcox County | $262,500 |
