EDA Announces 60 Finalists for $1 Billion
“Build Back Better Regional Challenge”
U.S. Secretary of Commerce Gina Raimondo announced the 60 finalists for the U.S. Economic Development Administration’s (EDA) $1 billion “Build Back Better Regional Challenge” the main component of the EDA’s American Rescue Plan programs.
The 60 finalists were selected from a pool of 529 applications and will receive a grant of approximately $500,000 each. Applications were received from 45 states and Puerto Rico. Additionally, the finalists will move on to Phase 2 of the challenge which will award a select group of 20 to 30 regional coalitions up to $100 million to implement 3 to 8 projects that support an industry sector.
The “Build Back Better Regional Challenge” seeks to boost economic pandemic recovery and rebuild American communities, including some that have been grappling with decades of disinvestment.
