White House Unveiled Winners of $1B Economic Development Challenge

September 2, 2022 by Dan McCue
White House Unveiled Winners of $1B Economic Development Challenge
The White House, July 9, 2021. (Photo by Dan McCue)

WASHINGTON — President Joe Biden on Friday saluted the winners of the administration’s $1 billion Build Back Better Regional Challenge, a contest intended to spur regional economic development while promoting job creation and the next generation of clean energy and biotechnology.

During remarks delivered in the South Court Auditorium of the Old Executive Office, Biden said the 21 awardees span 24 states and will receive between $25 million and $65 million to execute transformational projects and revitalize local industries. 

Projects include developing workforce training programs and connecting workers to jobs; providing support to family owned manufacturers to transition from traditional automotives to electric vehicles; establishing a digital finance sector to support small businesses in tribal communities; providing digital resources to small farms; and renovating and repurposing industrial buildings for new businesses.

Additionally, private sector companies and local organizations are investing an additional $300 million in these local projects.


“Since day one, President Biden has been laser-focused on ensuring that economic opportunity is delivered to all Americans, especially communities that have grappled with decades of disinvestment or suffered economic distress exacerbated by the coronavirus pandemic,” said Commerce Secretary Gina Raimondo in a written statement. 

“As we invest and grow critical industries in the U.S., we want to create industry hubs in diverse communities across the country,” Raimondo continued. “These grants will provide critical and historic funding directly to community coalitions to invest in new infrastructure, research and development, and workforce development programs while creating good-paying jobs, supporting workers, and prioritizing equity.”


Equity was a key consideration for project finalists, with a focus on rural, tribal and coal communities, as well as communities facing high and persistent poverty, administration officials said. 

Funding awards include $87 million to two primarily tribal coalitions and, as part of EDA’s $300 million Coal Community Commitment, and over $150 million for projects serving energy communities impacted by the declining use of fossil fuels. 

These grants will support 236 rural counties, 136 persistent poverty counties, and 121 counties that include tribal areas.

In addition, over $270 million of the funding will be allocated to develop workforce training and development programs and place workers in jobs.

The Build Back Better Regional Challenge winners are:


The 21 BBBRC winners were chosen from 60 EDA-designated finalists that each received approximately $500,000 in funding and technical assistance to continue developing their cluster strategies. The funding for each coalition listed above is approximate, with the actual awards to be signed later in September. 

Dan can be reached at [email protected] and at https://twitter.com/DanMcCue.

A+
a-

In The News

Health

Voting

Economy

September 27, 2022
by Dan McCue
Consumer Confidence Improved Again in September

NEW YORK — Consumer confidence jumped to a five-month high this month as falling gas prices helped ease the pinch... Read More

NEW YORK — Consumer confidence jumped to a five-month high this month as falling gas prices helped ease the pinch of stubbornly persistent inflation. According to The Conference Board, the nonpartisan, member-driven think tank, its Consumer Confidence Index® increased in September for the second consecutive month. ... Read More

September 23, 2022
by Tom Ramstack
Senators Suggest More Incentives for Rechargeable Battery Development

WASHINGTON — If rechargeable batteries leading the switch away from gasoline-powered vehicles are impressive, electrical industry executives told a Senate... Read More

WASHINGTON — If rechargeable batteries leading the switch away from gasoline-powered vehicles are impressive, electrical industry executives told a Senate panel Thursday they haven’t seen anything yet. They say they are developing new technologies that will generate more electricity than lithium-ion batteries at a lower cost.... Read More

Fed Attacks Inflation With Another Big Hike and Expects More

WASHINGTON (AP) — Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a... Read More

WASHINGTON (AP) — Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an aggressive pace that will heighten the... Read More

High Inflation in Sight, Fed to Signal More Rate Hikes Ahead

WASHINGTON (AP) — Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming,... Read More

WASHINGTON (AP) — Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming, he issued a blunt warning: The Fed's drive to curb inflation by aggressively raising interest rates, he said, would "bring some pain" for Americans. When the... Read More

September 19, 2022
by Dan McCue
Study Finds US Can Gain Durable Competitive Advantage by Investing in Clean Energy

WASHINGTON — Strategic investments in six key “clean” technologies could yield “massive and lasting benefit” for the U.S. economy by... Read More

WASHINGTON — Strategic investments in six key “clean” technologies could yield “massive and lasting benefit” for the U.S. economy by mid-century, a new report says. The study, commissioned by Third Way, a D.C.-based think tank, and Breakthrough Energy, and researched by the Boston Consulting Group, focuses... Read More

September 15, 2022
by Dan McCue
Biden Calls Tentative Railway Deal ‘A Big Win for America’

WASHINGTON — President Joe Biden made a last-minute addition to his public schedule on Thursday, inviting railroad and union leaders... Read More

WASHINGTON — President Joe Biden made a last-minute addition to his public schedule on Thursday, inviting railroad and union leaders to the White House to celebrate their averting a nationwide strike that could have crippled the U.S. economy. Many of those invited to the Oval Office... Read More

News From The Well
scroll top