(MENAFN - Kuwait News Agency (KUNA))
WASHINGTON, July 22 (KUNA) -- US Secretary of Commerce Gina Raimondo announced Thursday the launch of a "transformative" USD three billion economic development initiative to help communities across the country "build back better."
It is the "largest local economic development initiative," the Department has ever made, noted Raimondo, adding "every community in America can begin applying for that funding."
Raimondo told reporters during a briefing at the White House that "this initiative has been specifically designed to make sure that we are going to be providing high quality real jobs for the community."
She added that millions of Americans "continue to struggle" as a result of the coronavirus pandemic and "it's uneven."
She noted "those who continue to struggle, it's disproportionately women, people of color, communities of color, rural communities, and tribes. We know two million American women dropped out of the labor force since the start of the pandemic.
"So ensuring that these USD three billion are distributed equity is core to our investment strategy," she affirmed.
She said that this initiative "has the potential to create, we believe, 300,000 jobs in the near term, revitalize dozens of communities around America, and drive innovation in underserved communities and revitalize depressed economies."
She indicated that the 'Investing in America's Communities' was launched today with six components, one that includes providing USD 750 million to "accelerate the recovery of travel, tourism and outdoor recreation.
"These grants together, reflect the values and priorities of President (Joe) Biden's Build Back Better agenda. And they, alongside of the jobs plan will accelerate America's economic recovery and help the country continue to get back to work," she remarked. (end)
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