President Announces $1 Billion in Regional Economic Development

Twenty-four states will receive assistance under the American Rescue Plan. 

President Joe Biden and Commerce Secretary Gina Raimondo held a virtual event Friday with winners of grant money through the Build Back Better Regional Challenge, an initiative funded through the American Rescue Plan to revitalize communities with new manufacturing, biotech, and clean energy projects. 

“As we invest and grow critical industries in the U.S., we want to create industry hubs in diverse communities across the country,” Secretary Raimondo stated. “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.” 

Each of the projects will receive between $25 million and $65 million. Among those chosen from hundreds of applicants is a Nebraska robotics initiative to invest in research and innovation, which will receive $25 million; $52 million for a Detroit foundation to modernize its supply chain around the mobility industry; $44 million for a New Hampshire coalition working on the production of regenerative tissues and organs; and $62 million for a West Virginia based coalition leading the transition to clean energy in the Appalachian region. 

“I applaud every community that received a grant and that applied. You’re the reason I’m so optimistic about the future of this country,” President Biden said at the virtual event with several of the beneficiaries.  

As the Lord Leads, Pray with Us…

  • For Secretary Raimondo to be discerning as she implements the president’s strategies.
  • For the president and his economic advisors as they support community programs and energy projects.

Sources: The Hill, Department of Commerce


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