Stories of Technology, Innovation, & Entrepreneurship in the Southeast

Tennessee had two finalists among the 22 announced in January for the U.S. Economic Development Administration’s (EDA) “Distressed Area Recompete Pilot Program,” selected from 565 submissions — the highest number of applications to any national EDA program.

When the six Recompete winners were announced on Monday, neither Tennessee finalist won the big bucks – $20 to $50 million. The Recompete program targets the hardest-hit and most economically distressed areas where prime-age (25 to 54 years) employment is significantly lower than the national average, with the goal to close this gap through flexible, locally-driven investments.

Two of the six winners who shared a total of $184 million were from neighboring states.

• Reinvest Birmingham Recompete Plan, led by the City of Birmingham, received an estimated award amount of $20 million; and
• The Eastern Kentucky Runway Recompete Plan, submitted by an organization named Shaping Our Appalachian Region (SOAR), received an estimated award amount of $40 million.

The Tennessee finalists, who sought $20 million each, were:

• The City of Chattanooga, in collaboration with several other organizations, was focused on the revitalization of the South Chattanooga/East Lake area that includes Alton Park, Clifton Hills, East Lake, and Oak Grove neighborhoods.
• The Memphis Chamber Foundation proposed its “Prosper Memphis 2030 Recompete Plan” to diversify the local economy and build pathways into growth industries.

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