WASHINGTON, 14 December 2021, (TON): U.S. Secretary of Commerce Gina M. Raimondo today announced the 60 finalists for the U.S. Economic Development Administration’s (EDA) $1 billion “Build Back Better Regional Challenge” the marquee of EDA’s American Rescue Plan programs that aims to boost economic pandemic recovery and rebuild American communities, including some that have been grappling with decades of disinvestment.

The Build Back Better Regional Challenge provides transformative investments up to $100 million per grantee, to develop and strengthen regional industry clusters across the country, all while embracing economic equity, creating good-paying jobs, and enhancing U.S. competitiveness globally.

The 60 finalists each a coalition of partnering entities have proposed projects that will develop or scale industry sectors, develop and train the workforce of today, and build resilient economies. Finalists will now compete for Phase 2 of the Challenge, which will award 20-30 regional coalitions up to $100 million to implement 3-8 projects that support an industry sector. The deadline for Phase 2 is March 15, 2022.

Today’s finalists, chosen from a pool of 529 applicants, will each receive a grant of approximately $500,000 to further develop their proposed projects.