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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 Northern Arizona University. A short project description is listed below.
"This EDA investment supports Northern Arizona University with establishing a workforce development program focused upon the forest products industry in Flagstaff, Arizona. The project work activities include completion of a survey to assess needs for forest operations workers, development of a training center curriculum, development and planning of workshop and seminar events, execution of collaboration with key industry partners, and performing an examination of the status of lumber producers and related business entities. Once completed, the project will support economic diversification, increase job creation and resiliency, and attract private investment to an area that has been impacted by the decline in the coal industry."
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