Billions Available to Support Regional Economic Development
August 25, 2022
The Little Hoover Commission Compiles List of Major State Programs for Regional Economic Development Initiatives
The Little Hoover Commission recently released a brief that identifies current major state programs that can support regional development initiatives. Counties may benefit from leveraging awareness of new and existing programs and funding streams for any state economic development programs that are of interest for development. In the brief, the Commission found 61 programs and investments across 21 state agencies and departments that provide:
- $3.9 billion in one-time funding and $150 million in annual continuing funding to support clean energy and climate-related programs.
- $2.7 billion in one-time funding and $891 million in annual continuing funding for training, workforce development, and career pathways programs.
- $974 million in one-time funding and $25 million in annual continuing funding to support investments in the construction and expansion of higher education centers, facilities, and campuses.
- $467.5 million in one-time funding and $180 million in annual continuing funding for business development and incentive programs.
The Commission issued this brief in the hope of providing state and regional policymakers with awareness of the range of new and existing programs and streams that have the potential to expand California’s Community Economic Resilience Fund.