FILE – In this May 5, 2021, file photo, Vice President Kamala Harris, left, and Commerce Secretary Gina Raimondo participate in a roundtable with women-led small business owners in Providence, R.I. President Joe Biden’s administration says it is making $3 billion in economic development grants available to communities. Raimondo tells The Associated Press her agency will begin accepting applications for the competitive grants, which officials hope will create hundreds of thousands of jobs.
President Joe Biden interacts with members of the audience during a commercial break for a CNN town hall at Mount St. Joseph University in Cincinnati, Wednesday, July 21, 2021.
WASHINGTON (AP) — President Joe Biden’s administration is beginning to make $3 billion in economic development grants available to communities — a tenfold increase in the program paid for by this year’s COVID-19 relief bill.
Commerce Secretary Gina Raimondo said her agency on Thursday will begin accepting applications for the competitive grants, which officials hope will create hundreds of thousands of jobs and help struggling cities and towns make long-term investments to drive development for years to come.
“This is about real help for communities across the country as they rebuild,” Raimondo said Wednesday in an interview with The Associated Press. “It’s about longer-term investments to help communities build themselves back from the bottom up in the ways that work best for them.”
The grants will be targeted at supporting local infrastructure, job training programs and developing new industries. Recipients will be selected on the basis of the anticipated return on investment to taxpayers. Raimondo was set to appear at Thursday’s White House press briefing to promote the new program.
“These are taxpayer dollars we are investing in communities, so we want to help them get recovery right,” Raimondo said. “These investments can help ensure they can rebuild more sustainably and more equitably in the ways that work best for them.”