White House Investing $3 Billion to Get Americans Back to Work

WASHINGTON—The Biden administration announced on July 22 an economic development plan that would invest $3 billion to support jobs and economic recovery in distressed and underserved communities affected by the pandemic. The initiative would bring “transformative growth” to communities throughout the country by investing in infrastructure, innovation, and workforce training, according to Secretary of Commerce Gina Raimondo, who announced the details of the investment plan. “This initiative has the potential to create, we believe, 300,000 jobs in the near term,” she said during a press briefing at the White House. As part of the plan, $1 billion will be invested in innovation and projects that develop new industries or expand existing ones in underserved communities. The initiative also allocates $500 million toward workforce training and apprenticeship programs mainly for “women, people of color, and underserved communities,” Raimondo said. “We have designed this so that funds can also be used for …Read More

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