U.S. Department of Commerce Announces Build Back Better Regional Challenge Applicants

EDA announced last week that 529 regions from all 50 states and five territories have submitted applications for Phase 1 of the $1 billion Build Back Better Regional Challenge.

As the Build Back Better Regional Challenge Program Lead, I am thrilled that so many regions, from rural communities to major metros, brought their economic development leaders together to apply for this transformational opportunity.  This is clear evidence of the need for locally driven investment strategies to improve U.S. competitiveness.

To find a list of applicants and to read Assistant Secretary Alejandra Y. Castillo’s letter to them, please click here.

The Build Back Better Regional Challenge is designed to assist communities nationwide in their efforts to build back better by accelerating the economic recovery from the coronavirus pandemic and building local economies that will be resilient to future economic shocks. In phase 1, 50-60 regional coalitions of partnering entities will be awarded $500,000 in technical assistance funds to develop and support three to eight projects to grow a regional growth cluster. In phase 2, EDA will award 20-30 regional coalitions $25 million to $75 million, and up to $100 million, to implement those projects. As part of its $300 million Coal Communities Commitment, EDA will allocate at least $100 million of the Build Back Better Regional Challenge funding to support coal communities.

For more information about the Build Back Better Regional Challenge, visit: https://eda.gov/arpa/build-back-better/