The state has launched a pair of competitive grant programs that promise to create jobs, strengthen the vibrancy of Connecticut”™s municipalities, and promote new public-private partnerships to accelerate economic growth.
The Innovation Corridor program and the Connecticut Communities Challenge program, both of which will be administered by the Connecticut Department of Economic and Community Development (DECD), aim to spur place-based development in municipalities with up to $200 million in funding over five years.
The grants are a component of Gov. Ned Lamont”™s Economic Action Plan, a package of initiatives totaling over $750 million over five years that is matched approximately dollar-for-dollar by private and other non-state funding that will result in a projected 80,000 new jobs.
“These two new programs will have wide-ranging impacts as we emerge stronger than ever from the pandemic, creating thousands of new jobs, improving the vibrancy and quality of life in our communities, and making all corners of the state even more attractive for investment and opportunity,” Lamont said.
Applications are now being accepted for both programs.
Under the Innovation Corridor program, the DECD will select two or proposals for major urban areas or regional economic centers. The projects are designed to facilitate the creation of at least 15,000 new jobs in data science, advanced manufacturing, insurance technology, or other high-growth industries. The department expects to grant up to $100 million in total over five years.
Municipalities are invited to submit applications in conjunction and coordination with stakeholders that may include private businesses and developers, post-secondary educational institutions, and philanthropic or other not-for-profit entities, demonstrating a public-private partnership.
Additional details on the Innovation Corridor program can be found here.
Under the Connecticut Communities Challenge program, the DECD will fund a wide range of projects that are designed to improve livability, vibrancy, and appeal of communities throughout the state while aiming to create approximately 3,000 new jobs. The DECD”™s goal is to allocate up to 50% of the funds to projects in distressed municipalities.
Successful projects will likely include multiple of the following elements:
- Transit-oriented development that densifies commercial and/or residential land uses near transit hubs.
- Downtown/major hub development that improves or reuses existing property.
- Essential infrastructure that facilitates future development.
- Housing to support affordability, accessibility, and local workforce.
- Mobility improvements that increase connectivity to transit and promote economic activity, including pedestrian, ADA, and bicycle improvements.
- Public space improvements that provide amenities to the community, including open spaces, public art projects, wayfinding, and lighting and safety improvements.
Municipalities, economic development agencies, and regional council of governments can apply for the grants and are encouraged to partner with private developers, business organizations, and other institutions. Grant sizes will range between $1 to $10 million per project. The department expects to grant up to $100 million in total over the next five years.
Additional details on the Connecticut Communities Challenge program can be found here.
