Measuring Economic Development Network Impact
GrantID: 76358
Grant Funding Amount Low: $500,000
Deadline: December 31, 2027
Grant Amount High: $10,000,000
Summary
Explore related grant categories to find additional funding opportunities aligned with this program:
Community/Economic Development grants, Disaster Prevention & Relief grants, Employment, Labor & Training Workforce grants, Municipalities grants, Regional Development grants.
Grant Overview
Creating a Sustainable Economic Development Network
The initiative focused on establishing a sustainable economic development network emphasizes leveraging technology to create interconnections among local businesses, government entities, and community organizations. This funding seeks to support projects that build regional resilience by enhancing collaboration and resource sharing, rather than direct service delivery to individual businesses. Projects that involve standalone business assistance programs without a broad network will not be supported under this funding initiative.
In practice, an example of this initiative could be the creation of a digital platform that connects local businesses with resources such as market information and development opportunities. By centralizing these resources, the network fosters the growth of regional businesses. Data indicates that regions with cohesive networks show an increase in market access and improved business sustainability, suggesting a return on investment worth pursuing.
Capacity requirements for this initiative include demonstrating robust processes for stakeholder engagement and resource dissemination among various entities. The ability to track how participants benefit from connectivity within the network will also enhance the proposal’s attractiveness. Businesses must showcase clearly articulated goals for collaboration and measurable outcomes.
Regular assessments of performance thresholds will be a condition of funding. These thresholds will be evaluated using specific metrics, such as the increase in the number of partnerships formed and changes in business performance metrics. Failure to meet these standards may result in a reevaluation of the funding and its continuation, emphasizing accountability in service delivery.
Eligible Regions
Interests
Eligible Requirements
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