What does this program do?
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.
Who may 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, and Public bodies
How may funds be used?
RISE grant funds can be used to:
Build or support a business incubator facility
Provide 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
What is an eligible area?
The RISE project must serve a rural region small enough to allow close collaboration among partners. It also must include important elements of the region’s prioritized industry cluster (concentrations of related industries). The RBCS Administrator may award points to applications from distressed communities with high concentrations of employment in coal, oil and gas industries, and coal-fired generation facilities transitioning away from fossil fueled energy production. A list of qualifying communities – which includes both county and zip code – is provided for applicants to determine if they may qualify for the points. The Administrator also may award points to an application to help ensure uniform geographic distribution across a maximum number of states, and to promote diversity among targeted industries.
What is the maximum amount of a grant?
Grant amounts are awarded competitively with a minimum of $500,000 and a maximum grant amount of $2,000,000.