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EDA releases new funding opportunity to support underserved communities’ economic development plans and projects

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    EDA releases new funding opportunity to support underserved communities’ economic development plans and projects

    On June 16, the Economic Development Administration (EDA) announced the release of $35 million in funding under the Fiscal Year (FY) 2022 CARES Act Economic Recovery Corps and Equity Impact Investments. This Notice of Funding Opportunity (NOFO) funds two programs – the Economic Recovery Corps Fellows Program and the Equity Impact Investments Program – both aimed to support the development of successful economic development plans and projects in underserved communities.

    Under the Economic Recovery Corps Program, counties can apply themselves, or with a coalition of organizations, to function as a Network Operator to recruit and embed Economic Recovery Fellows in local economic development organizations. The program will fund Network Operators to recruit and place at least 50 Fellows in economic development organizations in underserved communities throughout the nation. Counties can recruit fellows for a wide range of activities including but not limited to:

    • Modernizing economic development tools and insights to increase knowledge sharing and collaboration in a digital age, such as digitalizing CEDS or relevant regional economic development goals, plans and activities
    • Providing technical assistance with project development, grant writing, performing feasibility studies, or developing impact analyses
    • Developing projects and attracting investments to accelerate job creation
    • Increasing staff capacity to help implement federally funded economic development initiatives/grants and programs, including those that are traditionally underserved

    Under the Equity Impact Investments Program, counties are eligible to apply for grants ranging from $3 million to $6 million that can be used to support organizations that work to enhance participation of underserved populations in economic development initiatives.

    Applications for both grant programs are due by August 5, 2022.

    On June 16, the Economic Development Administration (EDA) announced the release of $35 million in funding under the Fiscal Year (FY) 2022 CARES Act Economic Recovery Corps and Equity Impact Investments.
    2022-06-30
    Blog
    2022-07-05
EDA announces funding opportunity to support economic development in underserved communities The Economic Recovery Corps Fellows Program aims to add human capital to local organizations focused on improving economic resilience and competitiveness The Equity Impact Investments Program provides technical assistance to enable organizations to participate in economic development planning and projects

On June 16, the Economic Development Administration (EDA) announced the release of $35 million in funding under the Fiscal Year (FY) 2022 CARES Act Economic Recovery Corps and Equity Impact Investments. This Notice of Funding Opportunity (NOFO) funds two programs – the Economic Recovery Corps Fellows Program and the Equity Impact Investments Program – both aimed to support the development of successful economic development plans and projects in underserved communities.

Under the Economic Recovery Corps Program, counties can apply themselves, or with a coalition of organizations, to function as a Network Operator to recruit and embed Economic Recovery Fellows in local economic development organizations. The program will fund Network Operators to recruit and place at least 50 Fellows in economic development organizations in underserved communities throughout the nation. Counties can recruit fellows for a wide range of activities including but not limited to:

  • Modernizing economic development tools and insights to increase knowledge sharing and collaboration in a digital age, such as digitalizing CEDS or relevant regional economic development goals, plans and activities
  • Providing technical assistance with project development, grant writing, performing feasibility studies, or developing impact analyses
  • Developing projects and attracting investments to accelerate job creation
  • Increasing staff capacity to help implement federally funded economic development initiatives/grants and programs, including those that are traditionally underserved

Under the Equity Impact Investments Program, counties are eligible to apply for grants ranging from $3 million to $6 million that can be used to support organizations that work to enhance participation of underserved populations in economic development initiatives.

Applications for both grant programs are due by August 5, 2022.

About Julia Cortina (Full Bio)

Legislative Associate

Julia Cortina is responsible for administrative duties associated with managing the day-to-day activities of the Chief Government Affairs Officer, as well as preparing written material and analysis of relevant federal policy for NACo's Justic

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    Economic Mobility Leadership Network

    The Economic Mobility Leadership Network (EMLN) is a NACo cohort of county leaders that facilitates and incubates county-specific discussion and problem-solving on issues of economic mobility and helps county leaders identify and assess their current barriers to mobility and share scalable and transferable programs across the country.
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    Community, Economic & Workforce Development Steering Committee

    Responsible for all matters pertaining to housing, community and economic development, public works, and workforce development including the creation of affordable housing and housing options for different populations, residential, commercial, and industrial development, and building and housing codes.
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    <p>Responsible for all matters pertaining to housing, community and economic development, public works, and workforce development including the creation of affordable housing and housing options for different populations, residential,

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