United States Department of Agriculture (USDA) Rural Development Rural Business-Cooperative Service Administrator Karama Neal unveiled a new grant program to help rural communities create good-paying jobs and support new business opportunities in high-growth fields.

Rural Innovation Stronger Economy (RISE) is intended to help rural communities identify and maximize local assets and connect to networks and industry clusters within their region. The new grant encourages a regional, innovation-driven approach to economic development.

RISE provides grants of up to $2 million to consortiums of local governments, investors, industry, institutions of higher education, and other public and private entities in rural areas. The funds may be used to form job accelerator partnerships and create high-wage jobs, start or expand businesses, and support economic growth in the rural areas of their region.

Funding may also be used to establish and operate innovation centers and partnerships, such as integrating rural businesses into new supply chains, providing workforce training and identifying community assets.

To help ensure long-term and sustainable community and economic development, award recipients must support projects for at least four years.

Applicants are encouraged to contact their nearest USDA Rural Development State Office ahead of the application deadline for more information about the program or the application process.

Starting June 16, 2021, applications will be accepted electronically at Grants.gov. Applications must be submitted by 10:59 p.m. Central Time on August 2, 2021.

USDA is hosting a webinar at 10:30 a.m. on Tuesday, June 22, 2021, to help stakeholders and potential applicants learn more about this funding opportunity. To register, visit: attendee.gotowebinar.com/register/9046642451030677262.