A national Economic Recovery Corps program will launch through a $30 million grant to a coalition of groups.
The CARES Act Recovery Assistance funds were awarded by the Department of Commerce’s Economic Development Administration, according to a Nov. 3 news release.
“The Economic Development Administration is dedicated to working with communities to support their locally-driven strategies to recover and rebuild from the pandemic,” Assistant Secretary of Commerce for Economic Development Alejandra Castillo.
The full power of the federal government has been unleashed by President Joe Biden to ensure the nation recovers from the pandemic and builds back stronger, Secretary of Commerce Gina Raimondo said, the release reported. Regional economic development ecosystems will see their connectivity and capacity strengthened through the Economic Recovery Corps. That will result in the nation’s economic development recovery framework also getting a boost.
The International Economic Development Council received grant funding to lead the coalition that will recruit and manage the Economic Recovery Corps, the release said. IEDC President and CEO Nathan Ohle said lessons from the past several years show a growing need in distressed communities for resources that bring about more equitable economic outcomes.
“The Economic Recovery Corps program will build capacity and drive resources directly into the host organizations so that these communities might develop and deliver effective regional strategies to create sustainable and equitable opportunities for all,” he said, according to the release.
