WASHINGTON, July 22 (Reuters) – The Biden administration on Thursday launched $3 billion in COVID-19 rescue funds aimed toward serving to localities bolster their economies within the wake of the pandemic, calling on communities to hunt funding for a variety of revitalization initiatives.
The funding, licensed by the $1.9 trillion American Rescue Plan Act, is a part of President Joe Biden’s “Construct Again Higher” agenda to rebuild the nation after the novel coronavirus triggered widespread shutdowns and led to greater than 600,000 U.S. deaths up to now. The Democrat-backed invoice was handed in March.
New funding can be out there to communities nationwide via six packages run via the Division of Commerce focusing on jobs, as an illustration, in tourism, the company mentioned in an announcement.
“This funding will be sure that they’ve the sources to get well from the pandemic and can assist create new jobs and alternatives, together with via the event or enlargement of a brand new trade sector,” the Commerce Division mentioned.
Commerce Secretary Gina Raimondo instructed reporters the initiative might create as many as 300,000 jobs “within the close to time period.”
Of the whole funding, $1 billion can be allotted for as much as 30 localities that apply for cash for as much as eight neighborhood initiatives akin to constructing infrastructure or coaching employees, it mentioned.
There may be additionally $100 million “particularly for Indigenous communities, which had been disproportionately impacted by the pandemic,” the division added.
State and native governments, universities and schools, nonprofit organizations, unions and tribes might apply for the funds, which have to be awarded by September 2022, the Commerce Division mentioned. For-profit corporations and people are excluded.
Some $300 million in funding can even be put aside to help hard-hit communities depending on coal and different energy-sector work.
Reporting by Susan Heavey; Extra reporting by Jeff Mason and Trevor Hunnicutt; Modifying by Steve Orlofsky and Leslie Adler
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