USDA Funding for Rural Innovation Stronger Economy (RISE) Grants
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 to promote private investment in regional economies. The flexible use of funds by RISE grant recipients allows a region to leverage its community assets by assisting new and existing industries, establishing and operating innovation centers for job development and training, and using new or improved broadband service by job 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.
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
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
Minimum of 20 percent of eligible project activity costs
FUNDING AVAILABLE AND APPLICATION WINDOW:
FUNDING AVAILABILITY: $2,000,000
GRANT AMOUNTS: Grant amounts are awarded competitively with a minimum of $500,000 and a maximum grant amount of $2,000,000.
APPLICATION DEADLINE: Completed applications must be submitted electronically by no later than 11:59 p.m. Eastern Standard Time April 1, 2024. Potential applicants may submit a concept proposal for review by the Agency no later than February 1, 2024.