U.S. Commerce Secretary Announces Greater MSP Partnership Is Finalist In National “Build Back Better” Challenge
December 14, 2021
U.S. Secretary of Commerce Gina M. Raimondo today announced the GREATER MSP Partnership is one of the 60 finalists for the U.S. Economic Development Administration’s (EDA) $1 billion “Build Back Better Regional Challenge.” There were 529 applications from regional coalitions from across the country, and only about 11 percent were selected to move on to Phase 2 of the application process. Twenty to thirty regions across the country will be awarded $25-100 million to implement projects designed to build and scale industry clusters that create transformational economic change.
The grants awarded through the Challenge, which is a premier part of the American Rescue Plan, are designed to accelerate economic recovery from the COVID pandemic and to create industry clusters that will be resilient to future economic shocks. The GREATER MSP Partnership’s proposal is centered on accelerating growth of the bio-innovation industry cluster in Minnesota.