Southern Indiana Business Report
WASHINGTON, D.C. — The U.S. Department of Commerce’s Economic Development Administration announced Oct. 29 that seven agencies from across Indiana are among the 529 applicants from all 50 states and five territories for the American Rescue Plan Build Back Better Regional Challenge.
The $1 billion Build Back Better Regional Challenge will invest $1 billion in up to 30 regions to capitalize on American ingenuity and American workers. The challenge provides a historic investment, funded by the American Rescue Plan, to support bottom-up, middle-out economic development focused on advancing and accelerating an equitable economic recovery, creating good-paying jobs, and building resilient regions.
“We are very pleased with the great response we have received to the Build Back Regional Challenge and are excited to have received 529 applications from regions spanning the entire country” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “From rural communities to university towns, major metros, and everything in between, our applicants reflect the local economies that propel our nation forward. This shows the exceptional demand for investment across the country and the enthusiasm for President Biden’s American Rescue Plan. The Bipartisan Infrastructure Investment and Jobs Act and Build Back Better Act will provide the resources to continue to do this much needed work so that communities can recover, Americans can get back to work, and we can enhance U.S. competitiveness on the global stage.”
Applicants from Indiana, and their associated projects are:
- City of Indianapolis, Build Back Better – Central Indiana Initiative.
- Indiana Economic Development Corporation, Build Back Better Proposal for the State of Indiana.
- Michiana Area Council of Governments, MACOG Advanced Manufacturing for a Sustainable Tomorrow.
- National Center for Complex Operations, INKY Innovation Cluster.
- Northwestern Indiana Regional Planning Commission, Midwest Quantum Corridor.
- River Hills Economic Development Corporation, River Hills Coalition – Build Back Better Regional Challenge.
- West Central Indiana Economic Development District, Inc., Digital Innovation Supercluster.
Southern Indiana Business Report reached out for more information from agencies whose projects could impact the local area. Indiana Economic Development Corporation declined to provide details on its application but did say word on this round of funding is expected back by the end of the year.
Cory Cochran, executive director of River Hills, explained that agency’s application is for $75 million in total projects touching all five of the River Hills counties: Clark, Floyd, Harrison, Scott and Washington, with word from the EDA expected on or after Dec. 8. “We worked with community leaders in each to develop the application,” he said. “… We submitted for three water infrastructure projects, one transportation/logistics project, and a region-wide workforce development project.”
Announced July 22 by U.S. Secretary of Commerce Gina M. Raimondo, the EDA investment is the largest economic development initiative from the Department of Commerce in decades. The Build Back Better Regional Challenge is designed to assist communities nationwide in their efforts to build back better by accelerating the economic recovery from the coronavirus pandemic and building local economies that will be resilient to future economic shocks. In phase 1, 50-60 regional coalitions of partnering entities will be awarded $500,000 in technical assistance funds to develop and support three to eight projects to grow a regional growth cluster. In phase 2, EDA will award 20-30 regional coalitions $25 million to $75 million, and up to $100 million, to implement those projects. As part of its $300 million Coal Communities Commitment, EDA will allocate at least $100 million of the Build Back Better Regional Challenge funding to support coal communities.