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November 07, 2022 | Tom Ballard

EDA announces funding for Economic Recovery Corps program

The U.S. Economic Development Administration (EDA) has awarded a $30 million “CARES Act Recovery Assistance” grant to a coalition of organizations to establish and operate a nationwide Economic Recovery Corps program.

Under a cooperative agreement with EDA, the International Economic Development Council (IEDC) is receiving funding to lead a coalition to recruit and manage the program. Partnering with the IEDC are: (1) Center on Rural Innovation; (2) International City/County Management Association; (3) National Association of Counties Research Foundation; (4) National Association of Development Organizations Research Foundation; (5) National League of Cities Institute; and (6) Regional Accelerator and Innovation Network.

Funds from the EDA cooperative agreement will be used to recruit and place at least 65 Fellows in economic development organizations in underserved communities throughout the nation. As communities and organizations face depleted institutional resources, many are unable to develop and grow their staff to the level needed to fully execute their economic development plans and goals, particularly those established as part of a regional economic development planning process. The Economic Recovery Corps program will address the resource gap between planning and implementation by embedding Fellows into organizations to develop and execute regional economic development strategies in the communities they serve.

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