What is a RISE Grant?
The Rural Innovation Stronger Economy (RISE) Grant Program offers grant assistance to create and augment high-wage jobs, accelerate the formation of new businesses, support industry clusters and maximize the use of local productive assets in eligible low-income rural areas.
The RISE Grant Program meets a recognized need for federal support of jobs accelerator partnerships for the promotion of private investment in regional economies. The flexible use of funds by RISE grant recipients allows a region to leverage their community assets by assisting new and existing industry, establish and operate innovation centers for job development and training, including through the use of new or improved broadband service by jobs accelerators. The RISE program will improve the ability of rural communities to create high-wage jobs, accelerate the formation of rural businesses, and strengthen regional economies.
How much funding has been available?
Grant amounts are awarded competitively with a minimum of $500,000 and a maximum grant amount of $2,000,000. Completed applications must be submitted electronically by no later than 11:59 p.m. Eastern Standard Time, May 19, 2022. Applications are submitted through https://www.grants.gov.
How can the funds be used?
RISE grant funds can be used to:
- Build or support a business incubator facility
- Provide a worker training to assist in the creation of new jobs
- Train the existing workforce with skills for higher-paying jobs
- Develop a base of skilled workers and improve their opportunities to obtain high-wage jobs in new or existing local industries
Who can apply?
Eligible applicants are rural jobs accelerator partnerships with expertise in delivering economic and job training programs, consisting of the following:
- Non-profit entities
- State entities
- Tribal entities
- Institutions of higher education
- Public bodies
