Gina Raimondo and Biden will Announce $1 Billion worth of Grants to Boost the Economy
According to Gina Raimondo, the mission itself is “personal” as she said her father lost his job at a watch factory in Rhode Island...
Today President Biden and Gina Raimondo, the Commerce Secretary, will announce a $1 Billion bundle of federal grants awarded to businesses in manufacturing, clean energy, farming, biotech, and others. 529 applicants made up the initial list with those same companies receiving a portion of the $1.9 Trillion Covid relief package last year.
"The whole point of this is we’re not going to let you get left behind as we transition to a more digital economy, to a more technical economy, to a green economy. People want to work where they live. People want to know there is a place for them in the changing economy.”
Gina Raimondo said.
The $1 Billion in grants is a piece of a long-term effort to build up pieces of the country that are in much economic need. According to Gina Raimondo, the mission itself is “personal” as she said her father lost his job at a watch factory in Rhode Island. Grants are the largest ever for local economic development provided by the Commerce Department, according to Gina Raimondo.
$65.1 Million will go to California for farm production, $25 Million will go to Nebraska for robotics, $65 Million will go to Georgia for AI, $63.7 Million will go to New York for lithium battery development, and $62.8 Million will be sent to West Virginia in order to shift to solar power.
Winners were chosen based on “merit rather than politics” and investments will result in 100,000 jobs.