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Rural Innovation Stronger Economy (RISE) Grants

Federal Agency

Sub-Department

Rural Development

Purpose

To grant assistance to create and augment high-wage jobs, accelerate the formation of new businesses, support industry clusters and maximize the use of local productive assets in eligible low-income rural areas.

Applicant and/or Project Eligibility Requirements

Eligible applicants are rural jobs accelerator partnerships with expertise in delivering economic and job training programs

Decarbonization Considerations

The Rural Business Cooperative Service (BRCS) Administrator may award points for projects that advance identified Rural Development Key Priorities, including "Addressing Climate Change and Environmental Justice".

Equity Considerations

Funds can be used to: Build or support a business incubator facility; Provide worker training to assist in the creation of new jobs; Train the existing workforce with skills for higher-paying jobs; Develop a base of skilled workers and improve their opportunities to obtain high-wage jobs in new or existing local industries.

Helpful Tips

Other Notes

The RISE program is enacted through the 2018 Farm Bill, which expires in FY 2023. The program continuity is subject to the new Farm Bill expected from Congress by the end of 2023.

Deadline (Announced or Anticipated)

April 20, 2023

Funding Available

$500,000

Max Award Amount

$2,000,000

Expected Allocations

Average Award (Estimated)

Matching Funds

20%

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