U.S. Secretary of Commerce Gina M. Raimondo announced the finalists for the $1 Billion “Build Back Better Regional Challenge” in a press release.
On Monday, Dec. 13, Secretary of Commerce Raimondo released the names of all 60 finalists currently in the running for the U.S. Economic Development Administration’s (EDA) $1 billion “Build Back Better Regional Challenge,” a program designed to boost economic pandemic recovery and rebuild American communities across the country, according to the Secretary of Commerce's press release.
“We are thrilled to help communities work together—in coalitions of government, nonprofits, academia, the private sector and others—to craft ambitious and regionally unique plans to rebuild their communities," said Alejandra Y. Castillo, assistant secretary of Commerce for Economic Development, according to the press release.
In order to qualify for the challenge, competitors were required to propose projects that will help particular industry sectors and the economy as a whole, while at the same time providing strategies for economic equity, good-paying jobs and enhancing U.S. competitiveness globally, according to the press release.
Through the next phase of the challenge, the finalist will be awarded up to $100 million to the implementation of 3-8 projects and have until March 15, 2022 as their deadline.
