The Economic Development Administration (EDA) has announced two new notices of funding opportunities: the FY 2022 CARES Act Economic Recovery Corps and the Equity Impact Investment program. These two programs are designed to support underserved communities throughout the United States.
The Economic Recovery Corps is a network of fellows designed to add human capital to local organizations. The EDA is currently seeking a Network Operator to build, launch, and operate the Economic Recovery Corps program, embedding fellows in fifty communities to provide technical assistance, knowledge, and insights. The Network Operator will collaborate with the EDA over a five-year period, and up to $35 million in funding will be available.
The Equity Impact Investment program aims to provide capacity, knowledge, and technical assistance to organizations that are serving underrepresented populations. The program is designed to build a coalition between existing organizations and create opportunities for EDA projects to better serve communities and aid organizations’ engagement in economic development initiatives. In doing so, EDA seeks to provide organizations with tangible ways to increase economic development through understanding, readiness, and capacity. Funding for this program will range between $3–$10 million.
The deadline to apply for both programs is Friday, August 5, 2022. For more information, please click here.