Catalyst Program

Federal Agency

Sub-Department

N/A

Purpose

To fund economic development and infrastructure projects throughout designated counties in its 4-state service area of Maine, New Hampshire, New York, and Vermont. Revolving loan funds may be used to fund workforce development and job training.

Applicant and/or Project Eligibility Requirements

Applicants must be in an eligible county across the 4-state region: Maine, New Hampshire, New York, and Vermont.

Decarbonization Considerations

The program specifically highlights basic infrastructure construction and repair (efficiency retrofits, weatherization, sustainable building design, etc.), renewable energy infrastructure, and transportation infrastructure, including roads, bus stations, terminals, and refueling/charging stations. For workforce development projects, consider integrating new clean energy and EV supply chain manufacturing into regional economic development strategies. Where possible, consider whether partnerships with universities or community colleges could be leveraged to launch an economic diversification and workforce development strategy to promote and enhance the growth of emerging industries and retain local talent. The NBRC's investment priorities specifically include projects that adapt to changing climate conditions and extreme weather events.

Equity Considerations

The NBRC's priorities include projects that provide benefits to or demonstrate meaningful engagement with communities who have been under-represented in past NBRC investments. Underinvested communities include rural communities (population less than 5,000), communities of color, and tribal communities.

Helpful Tips

The Catalyst Program will prioritize funding for projects that demonstrate both readiness and projected direct impacts on the region’s economy and communities. All projects must be consistent with the economic development goals of the region and advance a combination of NBRC and member state strategic investment principles. The Catalyst Program will run two funding rounds with$30 million available in Round 1 and $20 million available in Round 2 in 2024.

Other Notes

NBRC investment funds originate from the Federal Government but are approved by the Federal Government’s NBRC representative (Federal Co-Chair) and the Governors of the four states. The NBRC partnership is aided by recognized Local Development Districts (LDD) that assist with technical assistance, provide information on complimentary funding opportunities for projects, and ensure consistency with administration of projects that are funded.