An economic development grant is a way for government to fund ideas and programs designed to spur the economy. Federal and state grants can help local governments finance economic development projects, particularly those that support the construction or rehabilitation of public infrastructure and facilities. These projects may address community goals that create or keep private sector jobs and investments, attract private sector capital, or promote regional competitiveness, innovation and entrepreneurship, including investments that expand and upgrade infrastructure to attract new industry.
- Publication date: March 2020