Eight economic development Communities of Practice will be backed by $27.9 million in cooperative agreements by the Department’s Economic Development Administration.
These Communities of Practice are meant to disseminate knowledge and connect participants, according to a March 28 news release. Each Community of Practice supported through this funding will bring together groups of economic development practitioners working to develop economic ecosystems conducive to the creation of quality jobs for American workers.
“Local economic development practitioners are critical to making sure workers and entrepreneurs have the tools and skills they need to succeed in every community, especially those that have too often been left out and left behind,” U.S. Secretary of Commerce Gina Raimondo in the release. “As part of President Biden’s commitment to investing in workers, these awards will support our nation’s economic development practitioners, helping to grow local economies and bolster communities across the country.”
The EDA hopes the programs will facilitate pioneering approaches and community partnerships they desire to spear technological growth while developing new job opportunities through the Tech Hubs and the Recompete Pilot Program, according to the release.
The Biden administration said the investments as crucial to spearheading its industrial strategy to help the country compete through robust economic development initiatives that will strengthen local economies, the release reported.
“The Economic Development Administration is excited to make these groundbreaking investments in the future of economic development as a practice," Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo said in the release. "These EDA grants represent a bold, new approach to the development of formal structures that facilitate the creation, dissemination and preservation of critical place-based economic expertise and best-practices.”
Economic development specialists will build economic ecosystems favorable to establishing good jobs for American workers through community partnerships, the release reported. The measure is an expansion of the EDA’s itinerary of backing economic development practitioners and is a part of the Commerce Department and EDA’s understanding of working openly with communities and areas in order to establish economic development opportunities through technical assistance, strategic networking and topical programming opportunities.
