About the American Rescue Plan Programs
The Build Back Better Regional Challenge is one of many EDA programs aimed at building strong regional economies and supporting community-led economic development. Under the American Rescue Plan, EDA was allocated $3 billion in supplemental funding to assist communities nationwide in their efforts to build back better by accelerating the economic recovery from the coronavirus pandemic and building local economies that will be resilient to future economic shocks. American Rescue Plan funding enables EDA to provide larger, more transformational investments across the nation while utilizing its greatest strengths, including flexible funding to support community-led economic development. With an emphasis on equity, EDA investments made under the American Rescue Plan will directly benefit previously underserved communities impacted by COVID-19. For more information about EDA’s American Rescue Plan programs, visit eda.gov/ARPA.
About the U.S. Economic Development Administration
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth. For more information about EDA, visit eda.gov.
About Activation Capital
Established in 1993, the Virginia Biotechnology Research Partnership Authority (dba Activation Capital) is a political subdivision of the Commonwealth of Virginia. Its mission is to grow life sciences and other advanced technology innovation by promoting scientific research and economic development that attracts and creates new jobs and companies. With 1.2 million square feet of space developed on over 34 acres, its Virginia Bio+Tech Park is the hub of life science and technology innovations in Central Virginia. Activation Capital also serves as a leading innovation ecosystem development organization providing social, knowledge, and financial capital to clusters, entrepreneur support organizations, and entrepreneurs – accelerating their progress through development and maturation. For more information, visit activation.capital.
Alliance for Building Better Medicine
Alliance for Building Better Medicine is driven by an immediate and urgent need to create a reliable supply of safe, high-quality, and affordable medicines for all. The Alliance is powered by multi-jurisdictional public and private sector stakeholders in the Richmond-Petersburg region working together to define a new era in R&D, advanced pharmaceutical manufacturing, workforce development, and supply chain development. For more information, visit buildingbettermedicine.com.