"Biden-Harris Administration Announces Finalists for Economic Development Grants in Multiple Cities"

The Biden-Harris Administration has announced the 22 finalists of the Distressed Area Recompete Pilot Program (Recompete), which aims to close the employment gap in economically distressed areas through locally-driven investments. The program will invest $200 million in economic and workforce development projects across geographically diverse communities. The finalists, located in 20 states and territories, include both urban and rural regions, with a focus on rural and tribal communities. Phase 1 finalists will have the opportunity to apply for implementation grants in Phase 2. Additionally, the Department of Commerce has launched the Phase 2 Notice of Funding Opportunity (NOFO) for investments ranging from $20-$50 million.