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As the Economic Development Administration (EDA) continues to award its $3 billion allotment of pandemic relief funding made available by the American Rescue Plan Act of 2021 (ARPA), many states are taking aim at several specific areas of economic concern — while others are maintaining a broad perspective.

The Economic Development Administration (EDA) recently announced it received more than 500 applications to its Build Back Better Regional Challenge (BBBRC. Applicants are competing for 50 to 60 Phase 1 awards of $500,000 each to support the planning of “bottom-up, middle-out” economic development projects designed to advance and accelerate an equitable economic recovery, create good-paying jobs, and build resilient regions across the country.

The U.S. Economic Development Administration today announced the 50 organizations that will share in grants totaling $36.5 million to support programs that fuel innovation and tech-based economic development as part of the Build to Scale program.

The U.S. Department of Commerce is seeking applicants for the National Advisory Council on Innovation and Entrepreneurship (NACIE). NACIE advises the U.S.

The U.S. Economic Development Administration (EDA) has launched the FY 2021 $2 million STEM Talent Challenge to support programs to train science, technology, engineering, and math (STEM) talent and fuel regional innovation economies across the nation.

Today, the Economic Development Administration (EDA) announced funding opportunities for the $3 billion Congress provided the agency in the American Rescue Plan Act. Funds are available through six distinct challenges, with separate goals and application processes/deadlines for each.

The House Committee on Appropriations advanced an FY 2022 funding bill that provides for substantial increases to many science and innovation programs.

This week, the Senate passed the U.S. Innovation and Competition Act, a legislative package that includes the Endless Frontier Act. The tech-based economic development community should be excited about many initiatives authorized in the bill, including $10 billion for regional technology hubs, $100 billion in new R&D-related activities, and an expansion of the Manufacturing Extension Partnership program.

President Joe Biden has nominated Alejandra Y. Castillo to serve as the next assistant secretary for economic development in the U.S. Department of Commerce. If confirmed, she will have a unique opportunity to leave a significant imprint on regional efforts toward growing prosperity as a result of the $3 billion appropriated to the Economic Development Administration in March through the America Rescue Plan Act. 

As the new administration settles in, the Economic Development Administration (EDA) has updated its investment priorities — the guiding principles behind all of its competitive grants. Changes to the priorities are outlined below so that participants in local innovation economies are better able to align their proposed programs to these federal priorities.

A total of $29 million in grants will be awarded to 44 organizations across the country as part of the Scaling Pandemic Resilience through Innovation and Technology (SPRINT) Challenge provided by the Economic Development Administration. The SPRINT Challenge, with grants ranging from between $200,000 to $750,000, was developed last year with the goal of addressing the health and economic risks brought on by the COVID-19 pandemic through investments in entrepreneurship and innovation.

The American Rescue Plan Act, a $1.9 trillion spending package to address the ongoing health and economic impacts of COVID-19, was signed into law today. The legislation includes several initiatives that could strengthen regional innovation economies. Most notable among these is the $10 billion State Small Business Credit Initiative (SSBCI), $3 billion for the Economic Development Administration (EDA), and $350 billion for state and local government relief.

SSBCI Reauthorization

This week, the U.S. Economic Development Administration announced that the Build to Scale program has opened for applications. The Build to Scale program provides operating funding for tech-based economic development initiatives in regional economies. This program has long been a top priority for SSTI’s Innovation Advocacy Council, and we are happy that our continued success in raising the program’s appropriation means this year’s funding opportunity will award $38 million in grants.

The Economic Development Administration (EDA) has announced the seven recipients of the inaugural STEM Talent Challenge, awarding a total of $2 million in grants through the inaugural STEM Talent Challenge, which aims to boost local science, technology, engineering, and math (STEM) talent.

The final FY 2021 budget provides $1.4 trillion in total federal funding, including increases in some programs affecting the innovation economy. Among SSTI’s Innovation Advocacy Council priorities: EDA’s Build to Scale received an appropriation of $38 million, SBA’s Regional Innovation Clusters received $6 million, and SBA’s Federal and State Technology (FAST) program received $4 million. These are just a few of the federally-funded initiatives that support regional innovation economies and a wide range of federal R&D activities.

This week, the U.S. Economic Development Administration (EDA) announced the 2020 Build-to-Scale awards. In this round, nearly $35 million was awarded to 52 organizations to support regional strategies advancing entrepreneurship and innovation. Through the end of 2019, funded organizations had worked with more than 6,200 startups, facilitating $1.6 billion in investment and the launch of more than 9,000 products, according to EDA.

The Economic Development Administration’s Office of Innovation and Entrepreneurship (OIE) released a funding opportunity this morning for a new STEM Talent Challenge. The opportunity provides $2 million in total to governmental and nonprofit entities working to implement STEM apprenticeship models in their regions.

In separate announcements this week, the Department of Defense Office of Economic Adjustment (OEA) and the Economic Development Administration (EDA) revealed funding opportunities that can assist efforts to transform American innovations and support the growth of new companies.

Department of Defense

Join us for a special SSTI webinar on June 9th, when U.S. Economic Development Administration representatives will share information regarding $1.5 billion in economic development grants available for coronavirus response and recovery efforts at the local, state and regional levels. The EDA team also will discuss the pending innovation and entrepreneurship challenge component of the funding. Join us to learn more about qualifying for grants, which types of project support/assistance will be funded, how to apply, and more. There will be time for Q&A at the end of the presentation.

A bipartisan, bicameral group of legislators have introduced bills that would make a five-year commitment to increase America’s investment in R&D by $100 billion, while also investing $10 bi

U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is now accepting applications from eligible grantees for Coronavirus Aid, Relief, and Economic Security Act (CARES Act) supplemental funds (EDA CARES Act Recovery Assistance) intended to help communities prevent, prepare for, and respond to coronavirus.

The third package of emergency assistance related to COVID-19 is currently making its way through Congress, having passed the Senate last night and being expected to pass the House tomorrow. The legislation includes additional emergency loans and tax credits for retaining employees, as well as near-term aid for individuals, small businesses, and some of the most affected industries. While relatively little assistance is directly relevant to science- and innovation-related business development, many broader small business provisions can still be of assistance to these companies.

The U.S. Economic Development Administration has announced the FY 2020 notice of funding availability for the Regional Innovation Strategies program. There are multiple changes to the program this year, including that EDA is now referring to the program as “Build to Scale.” A total of $35 million is available this year due to support from Congress with advocacy from SSTI’s Innovation Advocacy Council. The Trump Administration budget proposal for FY2020, and again for FY2021, proposed eliminating the program.

SSTI and five peer, economic development-focused organizations submitted a letter to assistant secretary for economic development, John Fleming, in response to a request for information about incorporating Opportunity Zones (OZs) into existing EDA practices. The letter encourages the agency to be cautious in its approach, pointing out that OZ’s impacts are not yet understood.

EDA is currently soliciting proposals for $23.5 million in Regional Innovation Strategies (i6 Challenge and Seed Fund Support), and submissions are due April 4. For those looking for more information, EDA’s website contains profiles of all past awardees, and SSTI has a collection of past webinars, including the informational webinar for the current opportunity.