$1 billion in federal economic grants headed coast to coast
Source: AP
By JOSH BOAK
WASHINGTON (AP) — The government will send $1 billion worth of federal grants for manufacturing, clean energy, farming, biotech and more to 21 regional partnerships across the nation, President Joe Biden and Commerce Secretary Gina Raimondo announced Friday.
The 21 were chosen from 529 initial applicants vying for grants that were part of last year’s $1.9 trillion coronavirus relief package. The Biden administration has repeatedly laid out a vision for the economy that is more self-sufficient and driven by high-tech manufacturing and the development of renewable energy.
“We designed this program by thinking about people and places,” Biden said at a White House event. “This is about jobs in their communities for them, not having to leave or not having to go on unemployment. ”
Unlike much of the pandemic aid that was meant to address immediate needs, the grants are part of a longer-term effort to revitalize parts of the country that have needed an economic jolt. The money will include funds for existing industries and capital for new ventures. The grants are the largest ever for local economic development provided by the Commerce Department, Raimondo said.
President Joe Biden speaks about the American Rescue Plan during an event in the South Court Auditorium on the White House campus, Friday, Sept. 2, 2022, in Washington. (AP Photo/Evan Vucci)
Read more: https://apnews.com/article/covid-technology-health-climate-and-environment-53d958a276ccfbb8503139932b243b5e
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