Five new Appalachian Regional Commission ARISE grants drive multi-state collaboration to transform the regional economy.
Chattanooga, Tennessee, Sept. 05, 2024 (GLOBE NEWSWIRE) — Today, the Appalachian Regional Commission (ARC) announced $16.9 million in funding for five collaborative projects to expand the region’s infrastructure, tourism, business development, and workforce opportunities. Funded through ARC’s Appalachian Regional Initiative for Stronger Economies (ARISE), these projects bring together more than 60 partners representing at least 270 counties across 10 Appalachian states—including one of Appalachia’s federally recognized Tribal Communities—to drive large-scale economic transformation. ARISE grantees announced today include:
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$3,889,964 to the Appalachian Investors Alliance to establish micro-venture and angel funds for entrepreneurs and small businesses—and launch the Appalachian Venture Foundry to prepare businesses for investments—in Kentucky, Mississippi, Ohio, Pennsylvania, Tennessee and West Virginia.
Federal Co-Chair Gayle Manchin announced the awards during ARC’s 2024 Annual Conference in Chattanooga, Tennessee. She was joined by ARC’s 2024 States’ Co-Chair Governor Bill Lee and 600 federal, state and community leaders from across the 13-state Appalachian Region.
“By combining multi-state collaboration with innovative partnerships, ARC’s ARISE projects serve as models for how we can work as one, united Appalachia to maximize economic growth,” said ARC Federal Co-Chair Gayle Manchin. “I congratulate our newest ARISE grantees and am proud to have announced them in the presence of many of our federal, state, and local partners at ARC’s annual conference. I have no doubt that these ARISE projects— which include both planning and implementation grants— will build on previous successes and result in greater opportunities for our Appalachian people and communities.”
With today’s package, ARC has invested $88.2 million in 34 ARISE projects to support the development of new economic opportunities across all 13 Appalachian states.
Made possible through support from the Bipartisan Infrastructure Law, ARISE drives large-scale, regional economic transformation through collaborative multi-state projects.
To learn more about the new ARISE grantees, visit https://www.arc.gov/grants-and-opportunities/arise/arise-project-summaries/.
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About the Appalachian Regional Commission
The Appalachian Regional Commission is an economic development entity of the federal government and 13 state governments focusing on 423 counties across the Appalachian Region. ARC’s mission is to innovate, partner, and invest to build community capacity and strengthen economic growth in Appalachia to help the region achieve socioeconomic parity with the nation.
CONTACT: Janiene Bohannon Appalachian Regional Commission 202-754-0552 jbohannon@arc.gov