Unlike much of the pandemic aid that was meant to address immediate needs, the $1 billion in grants is part of a longer-term effort to revitalize parts of the country that have needed an economic jolt for existing industries and capital for new ventures.
“We designed this program by thinking about people and places,” Biden said at a White House event."This is about jobs in their communities for them, not having to leave or not having to go on unemployment. ”
Raimondo estimated that the investments, which will be provided over five years as reimbursements, will result in at least 100,000 jobs. The massive amount of coronavirus aid at the start of Biden’s tenure helped to accelerate job growth as the U.S. recovered from the pandemic. But accompanying the hiring was a burst ofthis summer, crushing consumer sentiment and putting the administration on the defensive to show how its policies are helping the economy.
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