A regional economic development strategy and why commercial real estate should care

9 January 2022

The U.S. Economic Development Administration announced last month the winners of $500,000 planning grants to 60 jurisdictions across the country for the $1 billion Build Back Better Regional Challenge. Winners of Phase 2 Build Back Better will be eligible for federal grants of up to $100M to create new science and technology parks and districts, accelerators, and other technology infrastructure across the country.

Adding a DMV regional CEDS overlay strategy in areas such as quantum, biotechnology, AI/machine learning, advanced manufacturing, aero and space tech, minority and small business development, HBCU outreach, community college involvement, bio manufacturing, workforce development, federal lab partnerships and other topics would help the region and real estate industry.

Brian Darmody

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