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The U.S. Economic Development Administration offered the following description of this project:
"This EDA investment funds the Enhancing Economic Opportunity for Isolated Coastal and Island Communities through Resilient Energy-Water Microgrid Systems. The project supports energy-water microgrid (EWM) systems. This is a model to achieve reliability and resilience of both energy and water system operations, where water infrastructure plays a key role in energy load management, and where the interdependencies of both the water and energy systems are co-optimized. The project will provide a test bed and model for the evaluation, design and control of EWMs, and a process for disseminating this knowledge to remote communities that could benefit from them. It will catalyze economic development opportunities for remote island, coastal or islanded communities in the Gulf of Maine by advancing sustainable and affordable energy and water infrastructure technologies and facilitating knowledge and technology transfer that will guide implementation."
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 |
|---|---|---|
| BioSTL | $3,337,602 | Sept. 16 |
| Delaware Innovation Space | $2,976,166 | Sept. 16 |
| Roanoke - The Blacksburg Innovation Network | $2,079,184 | Sept. 16 |
| University of Maryland Baltimore County | $1,323,540 | Sept. 16 |
| Trustees Of Indiana University | $952,574 | Sept. 14 |
| Pennsylvania Economy League | $600,000 | Sept. 16 |
| RI Bio | $595,000 | Sept. 16 |
| Casper Area Economic Development Alliance | $352,700 | Sept. 16 |
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