Through this American Rescue Plan Act Build Back Better Regional Challenge Notice of Funding Opportunity (ARPA BBBRC NOFO), EDA aims to assist communities and regions impacted by the coronavirus pandemic.
The pandemic has caused, and continues to cause, economic injury to U. S. communities and
regions in devastating and unprecedented ways.
This ARPA BBBRC NOFO is designed as a two-phase competition to (1) help regions develop transformational economic development strategies and (2) fund the implementation of those strategies that will create and grow regional growth clusters.
Such efforts will help regional economies recover from the pandemic and build economic diversity and resiliency to mitigate impacts of future economic disasters.
In Phase 1, EDA will provide technical assistance grants to approximately 50-60 coalitions (through a lead institution).
These coalitions will be considered “finalists” and the grants will be used by the finalists to prepare more detailed applications for transformational projects that benefit their respective geographic regions and are aligned around a holistic approach to building and scaling a strategic industry.
In Phase 2, EDA will award each of the 20-30 finalist coalitions $25-75 million (and potentially up to $100 million) to fund the collection of projects they identified.
The projects will be funded through grants to coalition members.This particular Funding Opportunity is for Phase 1 Concept Proposals ONLY.Funding Amount InformationEDA anticipates up to $30,000,000 in total being awarded in Phase 1, in technical assistance grants of up to $500,000 each.
In Phase 2, EDA anticipates funding regional growth clusters with component projects that collectively cost between approximately $25,000,000 and $75,000,000, though EDA will consider regional growth clusters above and below these amounts depending on the strength of the Proposal and quality of the individual component projects.
EDA anticipates that the cost of individual non-construction and construction component projects within regional growth clusters will range from approximately $750,000 to $25,000,000, or more if the cluster or project warrants it.
Read the attached full Notice of Funding Opportunity (NOFO) for more information and for instructions on how to apply.