Communities Across the Country will be able to Apply for $3 Billion in Funding Immediately
Today, U.S. Secretary of Commerce Gina M. Raimondo announced six programs, collectively called Investing in America’s Communities, that the Economic Development Administration (EDA) will execute to equitably invest the $3 billion it received from President Biden’s American Rescue Plan.
This EDA investment is the largest economic development initiative from the Department of Commerce in decades and will help communities across the country build back better.
Investing in America’s Communities includes:
Build Back Better Regional Challenge ($1 billion) will capitalize on American ingenuity and American workers by providing a transformational investment to regions across the country to revitalize their economies.
Good Jobs Challenge ($500 million) is designed to help get Americans back in good-paying jobs. The program will develop and strengthen regional workforce training systems and sector-based partnerships with a focus on programs targeted at women, people of color and historically underserved communities.
Economic Adjustment Assistance ($500 million) grants will help hundreds of communities across the nation plan, build, innovate, and put people back to work through projects tailored to meet local needs.
Indigenous Communities ($100 million) program will work hand-in-hand with Tribal Governments and Indigenous communities to develop and execute economic development projects they need to recover from the pandemic and build economies for the future.
Travel, Tourism and Outdoor Recreation ($750 million) program will focus on revitalizing the hard-hit travel, tourism, and outdoor recreation industries and accelerate the recovery of communities that rely on these sectors.
Statewide Planning, Research and Networks ($90 million) grants include funding for state planning efforts as well as grants to build Communities of Practice to extend technical assistance to support EDA’s work with grantees.
As part of the six programs, EDA is making a Coal Communities Commitment, allocating $300 million to ensure support for these communities as they recover from the pandemic and create new jobs and opportunities, including through the creation or expansion of a new industry sector.