$3 Million in Short-Term Planning Assistance Available to Coal-impacted Communities under the Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) InitiativeThe U.S. Economic Development Administration (EDA) recently announced the availability of $3 million in planning assistance to communities impacted, or which may be impacted, by contractions in the coal economy. These funds are made available as part of the Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) Initiative, a new interagency effort to assist communities negatively impacted by changes in the coal industry and power sector.
Economic changes often result in job loss and other concrete negative impacts, but can also generate mounting concerns about perceptions of uncertainty and risk in the regional economy. One of the first critical steps that communities need to take is to build a cohesive strategy for how they will adapt to these changes. Effective planning creates a road map which practitioners, policymakers and other stakeholders can use to identify and take the actionable steps necessary to realize their desired economic vision. These new planning funds will support the bottom-up strategies developed by the local communities.
Successful applications will enable affected communities to develop detailed strategies to: diversify their economies, create jobs in new or existing industries, attract new sources of job-creating investment, and/or how to provide a range of workforce services that result in industry-recognized credentials for high-quality, in-demand jobs.
Successful applications may also include projects that explore the feasibility of specific economic development diversification projects, entrepreneurship promotion, or assessments to provide community stakeholders key asset and impact information from which to conduct future strategic planning.
Funding will be available until expended or until September 30, 2015.
To apply for this funding, please follow instructions included within the Planning and Local Technical Assistance FFO and the addendum.
For additional information, please contact your EDA state representative.
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