Lawmakers Introduce RECOMPETE Act to Spur Economic Growth

Sen Chris Coons (D-DE), Reps Derek Kilmer (D-WA) and Jaime Herrera Beutler (R-WA), along with Sens Amy Klobuchar (D-MN), Michael Bennet (D-CO), and Jacky Rosen (D-NV) introduced the bipartisan Rebuilding Economies and Creating Opportunities for More People Everywhere to Excel Act (RECOMPETE Act). The RECOMPETE Act (S.2464) would establish a new federal grant program at the Economic Development Agency (EDA) that would empower persistently distressed communities to develop, implement, and carry out 10-year economic development strategies and create jobs. The RECOMPETE Act would provide eligible local labor markets, local communities, and Tribal governments with flexible 10-year RECOMPETE Grants from the EDA in an effort to meet a variety of local economic development needs. Grants could be used for infrastructure investments, brownfield redevelopment, workforce development, small business assistance, resources to connect residents to opportunities, and other investments to help communities rebuild. The RECOMPETE Act is endorsed by the National League of Cities, the Information Technology and Innovation Foundation, Third Way, the Progressive Policy Institute, and the Federal Issues Committee of the Washington State Association of Counties.