INvesting IN America's Communities
The Economic Development Administration announced $3 Billion in funding opportunities through a series of programs called Investment in America's Communities. This historic investment from President Biden’s American Rescue Plan Act represents the largest economic development initiative in decades.
Investing in America’s Communities, was launched with the following six Notices of Funding Opportunites. A summary overview of all programs under Investing in America’s Communities can be found here.
- 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)
Commerce and EDA, working with President Biden’s Interagency Working Group on Coal and Power Plant Communities, are also making a Coal Communities Commitment, allocating $300 million in American Rescue Plan funds (10 percent of the total EDA American Rescue Plan programs) 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. To meet this commitment, EDA will allocate $100 million from the Build Back Better Regional Challenge and $200 million of Economic Adjustment Assistance Challenge to support coal communities.
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.
More information about Investing in America's Communities and the series of programs can be found here: https://eda.gov/arpa/fact-sheet/