WASHINGTON, USA – US Secretary of Commerce Gina M. Raimondo, has announced that the Department of Commerce’s Economic Development Administration (EDA) will implement a series of programs, collectively called Investing in America’s Communities, to equitably invest the $3 billion it received from President Biden’s American Rescue Plan Act to help communities across the country build back better. The EDA investment is the largest economic development initiative from the Department of Commerce in decades.
Later today, Secretary Raimondo will address the White House Briefing Room to further lay out the Biden administration’s vision for how this historic investment will help every community not only rebuild their local economy but also reimagine it for the future.
“President Biden’s American Rescue Plan delivered direct relief to the American people and was the first step to energizing the American economy following the devastating impacts of the coronavirus pandemic,” said secretary Raimondo. “Now, its medium-term investments will allow communities around the country not only rebuild but reimagine their economy for the future.”
“With an emphasis on equity, EDA’s investments made possible by the American Rescue Plan will directly benefit communities that have been denied full access to economic prosperity and who have been disproportionately impacted by the coronavirus pandemic,” Secretary Raimondo continued. “We will work with local communities across the country on innovative new approaches to ensure that we can increase American competitiveness by strengthening our workforce, businesses, and communities and build back better in regions across the country.”
Investing in America’s Communities, was launched today with six notices of funding opportunity:
- Build Back Better Regional Challenge ($1 billion);
- Good Jobs Challenge ($500 million);
- Economic Adjustment Assistance Challenge ($500 million);
- Indigenous Communities Challenge ($100 million);
- Travel, Tourism, and Outdoor Recreation Grants ($750 million);
- Statewide Planning, Research, and Networks Grants ($90 million).
As part of the six programs, the Department of Commerce and EDA, working with president Biden’s Interagency Working Group on Coal and Power Plant Communities, is making a Coal Communities Commitment, which allocates $300 million in American Rescue Plan funds to coal communities. This investment will ensure that they have the resources to recover from the pandemic and will help create new jobs and opportunities, including through the development or expansion of a new industry sector.
The American Rescue Plan funding empowers EDA to build upon its greatest strength—flexible funding to support community-led economic development—and provide larger, more transformational investments across the nation. Under the American Rescue Plan, EDA will make grants to state and local governmental entities, institutions of higher education, not-for-profit entities, unions, and Tribes. EDA is not authorized to provide grants to individuals or for-profit entities.