The Appalachian Regional Commission (ARC) awarded $68.2 million to 65 projects through its Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) Initiative. POWER directs federal resources to economic diversification and revitalization projects in Appalachian communities affected by the downturn of the coal industry.
This is the Largest POWER funding package to date is expected to create more than 2,400 new jobs and train over 10,500 workers for new opportunities in Appalachia’s coal-impacted communities across 10 states.
The Eastgate District received $1,795,000 in ARC 2024 POWER grant funds: Congratulations to Youngstown Business Incubator (YBI)
· $1,795,000 POWER grant awarded to the Youngstown Business Incubator (YBI) for the “Rising Tides Initiative” project. The project will help position incumbent manufacturers located in Ashtabula, Belmont, Columbiana, Jefferson, Mahoning, Monroe, and Trumbull counties for entry into the microchip, advanced energy, defense, and aerospace industries. Rising Tides will provide existing manufacturers with comprehensive technology education, impactful pilot/demonstration programs, federal research support and other targeted initiatives to enhance manufacturer competitiveness. Rising Tides will also support emerging companies currently incubating in two regional technology incubators: Youngstown Business Incubator, focused on business software and advanced manufacturing technologies, and BRITE Innovation Center, supporting electric vehicle mobility, battery storage, and grid infrastructure. This project is expected to improve 90 businesses and 180 workers/trainees, create two new businesses and 20 new jobs, and leverage $9,050,000 in private investment.
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