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The feds are prepping $1.5B in economic development grants — and it wants your help

February 27, 2023

The U.S. Department of Commerce’s Economic Development Administration is crafting a $1 billion economic development grant program to help bring jobs to distressed communities — and it’s looking for your help. The $1 billion “Recompete Pilot Program” was originally authorized by Congress in 2022 as part of the CHIPS Act passed by Congress that poured tens of billions of dollars into semiconductor production and manufacturing. The grant though, is unrelated to semiconductors, and its purpose is to “target long-term comprehensive economic development and job creation in selected areas by supporting workforce development, business development, and infrastructure activities,” according to the Commerce Department.

Article Source: Baltimore Business Journal

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