The ARP funds will be used towards six programs; Notices of Funding Opportunities formally announced.
Using their $3 billion allocation of American Rescue Plan funds, the U.S. Department of Commerce's Economic Development Administration announced July 22 that it will implement six programs, collectively called Investing in America's Communities.
The EDA investment is the largest economic development initiative from the Department of Commerce in decades, according to the department's press release.
“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 Commerce Secretary Gina Raimondo. “Now, its medium-term investments will allow communities around the country not only rebuild but reimagine their economy for the future.”
Investing in America’s Communities, was launched July 22 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)
Of these six programs, municipalities are eligible for five.
Learn more and read the entire press release here.