On Thursday July 22, 2021 the U.S. Department of Commerce Economic Development Administration (EDA) announced the release of the Notice of Funding Opportunities (NOFOs) that will guide the administration of the $3 billion in supplemental funding that EDA received through the American Rescue Plan. U.S. Secretary of Commerce Gina Raimondo announced a collection of programs – collectively called Investing in America’s Communities – through which EDA will invest the $3 billion to assist communities across the country. This EDA investment is the largest economic development initiative from the Department of Commerce in decades and is intended to help communities across the country to ‘build back better.’ Investing in America’s Communities includes:
- $1 billion for the Build Back Better Regional Challenge
- $500 million for the Good Jobs Challenge
- $500 million for Economic Adjustment Assistance
- $100 million for Indigenous Communities
- $750 million for Travel, Tourism, and Outdoor Recreation
- $90 million for Statewide Planning, Research, and Networks
As part of the collection of programs, EDA is also making a Coal Communities Commitment and is allocating $300 million to ensure support for these communities as they recover from the pandemic and other economic shifts.