Community-based organizations and local neighborhoods will soon benefit from a grant designed to create jobs and improve economic development in low-income areas.
The Office of Community Services at HHS’ Administration for Children and Families is awarding $19.9 million to help 28 organizations implement community economic projects for disadvantaged communities through the Community Economic Development (CED) program.
CED programs will allow local, nonprofit and community-development corporations to apply for up to $800,000 for commercial and retail opportunities and equity investments. Companies can also use the funding to apply for loans to start a new business or expand a current business.
- In total, the CED grant program is expected to generate or expand 86 businesses in local communities and create 1,000 new full-time positions.
- Of the 1,000 new jobs, 754 will be filled by individuals with low-incomes.
- The CED program is estimated to leverage over $67.8 million in public and private funding.
“The Community Economic Development program provides crucial funding to help businesses around the country create economic opportunity for individuals with low-incomes. Creating good jobs is critical to many aspects of a family’s well-being.”— Jeannie Chaffin, Director, Office of Community Services
Administration for Children & Families
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