American Rescue Plan/CARES Act funding opportunities

The Economic Development Administration (EDA) has published the FY 2022 CARES Act Economic Recovery Corps and Equity Impact Investments Notice of Funding Opportunity (NOFO). This NOFO funds two distinct programs that are designed to provide support to underserved communities across the country in their efforts to develop successful economic development plans and projects. The first program (NOFO pages 4-8) is a network of Economic Recovery Corps fellows to add human capital to local organizations focused on improving economic resilience and competitiveness in distressed regions across the country. The second program (NOFO pages 8-11) is Equity Impact Investments that provides technical assistance to enable organizations serving underserved populations and communities to participate in economic development planning and projects.

Through the Statewide Planning, Research & Networks program, EDA is supporting states in planning efforts by allocating $59 million for Statewide Planning Grants.

Through the Travel, Tourism & Outdoor Recreation program, EDA is focused on accelerating the recovery of communities that rely on the travel, tourism and outdoor recreation sectors. $750 million of EDA’s American Rescue Plan funds are allocated to support the efforts.

Through the Indigenous Communities program, EDA is allocating $100 million in American Rescue Plan funding specifically for Indigenous communities, which were disproportionately impacted by the pandemic.

Through the Good Jobs Challenge, EDA is allocating $500 million to collaborative skills training systems and programs. EDA encourages efforts to reach historically underserved populations and areas, communities of color, women, and other groups facing labor market barriers such as persons with disabilities, disconnected youth, individuals in recovery, individuals with past criminal records, including justice impacted and reentry participants, serving trainees participating in the Supplemental Nutrition Assistance Program (SNAP), Temporary Assistance for Needy Families (TANF) and Women, Infants and Children (WIC), and veterans and military spouses.

The $1 billion Build Back Better Regional Challenge will provide a transformational investment to 20-30 regions across the country that want to revitalize their economies. These regions will have the opportunity to grow new regional industry clusters or scale existing ones through planning, infrastructure, innovation and entrepreneurship, workforce development, access to capital, and more.

EDA’s American Rescue Plan Economic Adjustment Assistance program makes $500 million in Economic Adjustment Assistance grants available to American communities.

The Economic Adjustment Assistance program is EDA’s most flexible program, and grants made under this program will help hundreds of communities across the nation plan, build, innovate, and put people back to work through construction or non-construction projects designed to meet local needs.

The Economic Development Administration (EDA) has published has published an Addendum to its Fiscal Year 2020 Public Works and Economic Adjustment Assistance Notice of Funding Opportunity (FY20 PWEAA NOFO) making $1.467 billion in CARES Act funding available to eligible grantees in communities impacted by the coronavirus pandemic.