Think and grow rich: RI's got ten million bucks for developers with brains

A few months ago the U.S. Economic Development Administration announced grants for Rhode Island flood-damaged businesses and business-development enterprises to rebuild with sustainability in mind.

That means the government wants to give money to developers and builders who think before they dig.  How much money?  About ten million dollars. Eligibility includes the state itself, or  any city,  tribe, non-profit or college/university in Rhode Island that has a post-flood redevelopment plan.

To get this money, the entity must present a development or building strategy that includes not just plans for dealing with future floods, but a long-term economic redevelopment strategy.  To a player, you must be a collaborator.  They want to see joint efforts between government and business that result in sustainable economic redevelopment strategies.  If these strategies create jobs in underdeveloped places in the state, you move up a few places in line. If your plan involves ecologically sustainable solutions, you're golden.

According to the grant announcement, "The Economic Adjustment Assistance program can provide a wide range of technical, planning and infrastructure assistance. This program is designed to respond adaptively to pressing economic recovery issues... The average size of an Economic Adjustment Assistance investment in FY 2010 was approximately $550,000, though investments ranged from $100,000 to $1,250,000."

Ten million bucks for Rhode Island innovators with a brains and a conscience. 

Click here for details.

By Regina DeAngelo