Under the American Rescue Plan, EDA was allocated $3 billion in supplemental funding to assist communities nationwide in their efforts to build back better by accelerating the economic recovery from the coronavirus pandemic and building local economies that will be resilient to future economic shocks.
This EDA investment is the largest economic development initiative from the Department of Commerce in decades and will help communities across the country build back better.
Investing in America’s Communities includes:
- Build Back Better Regional Challenge ($1 billion) will capitalize on American ingenuity and American workers by providing a transformational investment to regions across the country to revitalize their economies.
- Good Jobs Challenge ($500 million) is designed to help get Americans back in good-paying jobs. The program will develop and strengthen regional workforce training systems and sector-based partnerships with a focus on programs targeted at women, people of color and historically underserved communities.
- Economic Adjustment Assistance ($500 million) grants will help hundreds of communities across the nation plan, build, innovate, and put people back to work through projects tailored to meet local needs.
- Indigenous Communities ($100 million) program will work hand-in-hand with Tribal Governments and Indigenous communities to develop and execute economic development projects they need to recover from the pandemic and build economies for the future.
- Travel, Tourism and Outdoor Recreation ($750 million) program will focus on revitalizing the hard-hit travel, tourism, and outdoor recreation industries and accelerate the recovery of communities that rely on these sectors.
- Statewide Planning, Research and Networks ($90 million) grants include funding for state planning efforts as well as grants to build Communities of Practice to extend technical assistance to support EDA’s work with grantees.
The Economic Development Team is currently working in collaboration with regional stakeholders to spearhead coordination for the Build Back Better Regional Challenge. This program is designed to build more resilient economies through the identification, development, and support of regional industry clusters. A number of industry clusters exist within the Five County EDD, therefore coordination with economic development professionals across the region will prove crucial towards identifying a cluster with the greatest potential for growth.
The five additional programs present numerous opportunities for Utah’s tourism sector, development of workforce training programs, and support for indigenous communities.
Working closely with the Disaster Recovery and Resiliency Economic Development (DRRE) Strategy Committee, FCAOG strives to coordinate the most comprehensive application of these programs across the region to achieve desired community-led development objectives. The Five County Association of Governments is committed to capitalizing on this tremendous opportunity and assisting our partners throughout the Southwest with utilizing any funds applicable in the most impactful way.
For more information on EDA’s ARPA Programs and to get your community involved contact Five County Economic Development