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EDA Seeking Comment on Economic Visioning Challenge

on July 25, 2011 Source: Policy Dialogue on Entrepreneurship

The Economic Development Administration is taking a crack at seeding the creation of innovation ecosystems through a new "X Prize-style" competition that challenges multi-disciplinary teams of experts to develop economic and land use proposals for their city.

The Obama Administration recently launched Strong Cities, Strong Communities (SC2), an initiative to strengthen local capacity and spark economic growth in local communities. Six pilot locations were identified:

  • Chester, PA;
  • Cleveland, OH;
  • Detroit, MI;
  • Fresno, CA;
  • Memphis, TN; and
  • New Orleans, LA.

In addition to those locations, SC2 includes an Economic Visioning Challenge designed to help additional cities develop economic blueprints, which will be administered by EDA. Six cities will be competitively selected to receive a grant of approximately $1 million to fund their local Challenge.

In order to help formulate the Federal funding opportunity, EDA is seeking comment from the public and private sectors on the structure of the Challenge. Those wishing to comment have until August 9, 2011.

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