U.S. Department of
Commerce Issues Notice of Funding Availability To Support Foreign Direct Investment Attraction
The U.S. Department of Commerce announced today
the availability of funding for the FY 2017 International Engagement Ready Communities Competition. This $600,000 program seeks to help drive foreign
direct investment (FDI) in U.S. communities with diverse economic development
needs by enhancing their FDI attraction and export promotion efforts.
Through this program, the U.S. Economic
Development Administration (EDA), SelectUSA, and the Trade Promotion
Coordinating Committee (TPCC) will support empirical research on successful
international engagement strategies and develop best practice reports and a
competitiveness assessment tool. These elements will be incorporated into a
user-friendly economic development organization (EDO) toolkit and training
guide to help local communities assess and increase their ability to become
globally competitive while enhancing their trade and FDI promotion activities.
The United States holds the largest stock of FDI
in the world, and this investment plays an integral role in the U.S. economy by
supporting local strategies to spur innovation, create jobs, and drive exports.
While U.S. EDOs devote great effort to investment promotion, many face
significant resource constraints.
Eligibility is open to organizations engaged in economic
or infrastructure development opportunities, including state and local
governments, Tribal organizations, institutions of higher learning, and other
related public or private organizations or associations.
Grant applications are due by
June 12. For more information about how to apply, visit: https://www.grants.gov/web/grants/view-opportunity.html?oppId=293705, or contact: RNTA@eda.gov.
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