EDA Partners with New Growth Innovation Network and the NADO Research Foundation to Explore Inclusive Growth Strategies
This month, the Economic Development Administration’s (EDA) Research and National Technical Assistance program awarded a $900,000 CARES Act Recovery Assistance grant to the New Growth Innovation Network (NGIN) and sub-awardee, the National Association of Development Organizations Research Foundation (NADO RF). This project will focus on incorporating inclusive economic recovery actions into regional economic strategies through the development of a National Community of Practice and partnership with six Economic Development Districts (EDDs).
“The unprecedented changes witnessed in the American economy over the last 12 months requires us to examine adaptive approaches to economic development to ensure that no segment of society is left behind,” said Dennis Alvord, Acting Assistant Secretary of Commerce for Economic Development. “We’re excited to explore how inclusive growth strategies can help solve some of the economic challenges presented by the coronavirus pandemic.”
The grant will support NGIN and NADO RF’s work with six, yet to-be-selected, EDDs on embedding principles of economic inclusion in their Comprehensive Economic Development Strategies (CEDS), including the creation of a best practices toolkit and the provision of technical assistance to selected EDDs. At the same time, NGIN and NADO RF will develop a network of practitioners to share insights, best practice resources, and training with EDDs across the country.
“On behalf of New Growth Innovation Network and our members, we are thrilled to have the opportunity to work with the Economic Development Administration’s Research and National Technical Assistance program on this vital work,” said M. Yasmina McCarty, NGIN CEO and President. “This project enables us to bring inclusive economic growth models to hard-hit regions and ensure that we build a durable and equitable economic recovery.”
“We are very grateful to EDA for the opportunity to collaborate with NGIN on this important and timely effort to foster more resilient and equitable communities across the country,” said Joe McKinney, NADO RF Executive Director. “As metros and regions recover from the economic impacts of coronavirus, this project will support EDDs to implement inclusive economic growth strategies for a more durable and sustainable economic recovery.”
Established in 2018 and headquartered in Chicago, NGIN is a non-profit organization focused on inclusive economic growth and closing structural opportunity gaps, to ensure that people of color, women and neglected geographies are a core part of regional economic growth and prosperity.
The NADO Research Foundation (NADO RF) is the non-profit research affiliate of the National Association of Development Organizations (NADO), a membership association of the country’s regional development organizations. Founded in 1988, NADO RF is at the forefront of researching and sharing the latest innovative approaches to regional economic development in small metropolitan and rural America through training, research, and peer networking.