Build Back Better Regional Challenge (BBBRC)- Phase 2 (American Rescue Plan)
Federal Agency
Sub-Department
Economic Development Administration (EDA)
Purpose
To award transformative investment to 20-30 finalist coalitions identified in Phase 1 and fund their identified projects. The 2-phase BBB Regional Challenge aims to grow new regional industry clusters or scale existing ones through planning, infrastructure, innovation and entrepreneurship, workforce development, access to capital, and more.
Applicant and/or Project Eligibility Requirements
Applicants should identify one key coordinating lead institution per regional coalition to lead the concept and projects into the implementation phase, while fostering collaboration and coordinating resources to ensure these investments have the greatest economic impact on our communities, regions, and the nation.
Decarbonization Considerations
Consider strengthening existing sectors or creating new sectors in line with the Biden Administration's priorities and in line with the program guidelines to develop a competitive strategy for regional growth clusters. This is a highly flexible opportunity for coalitions to innovate and redefine their economy. Such strategies could consider regional supply chain enhancements or bringing new energy and sustainability related sectors to your region. This is particularly critical for coal community economies that EDA seeks to support by diversifying away from coal.
Equity Considerations
A strong regional growth cluster will ensure that the proposed projects’ and broader cluster’s benefits are shared across all affected communities, both urban and rural, and provides benefits to existing residents. Although not required, EDA encourages efforts to reach historically excluded populations, BIPOC, and women.
Helpful Tips
It is unclear whether EDA will be issuing a new round of this challenge.
Other Notes
On September 2, 2022, EDA announced 21 awardees, receiving between $25M and $65M: https://eda.gov/news/press-releases/2022/09/02/build-back-better-regional-challenge-awardees-announced.htm