$3 billion in Commerce recovery grants announced

Commerce Secretary Gina Raimondo said the department is making $3 billion in grants available for a myriad of programs, using funds passed as part of the American Rescue Plan.
1:30 | 07/22/21

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Transcript for $3 billion in Commerce recovery grants announced
I'm thrilled right now to be announcing the launch of a transformative. Three billion dollar economic development initiative. That will be running out of the Department of Commerce. I'm even more excited to say that starting today this afternoon. Every community in America can begin applying for that funding. So ensuring that these three billion dollars who distributed equity is core to our investment strategy. It we know that equity is good for workers good for business and good for the economy. As many. I saw what good paying jobs mean to American families and mean to communities. This initiative has the potential to create we believe 300000. Jobs in the near term. Revitalize dozens of communities around America and drive innovation in Unser underserved communities and revitalize. Depressed economies. We are deeply committed it is to be transparent. Everything's going to be on line it's going to be on our web sites going to be a wide open transparent process. And we. Are at the deck go. Putting in place accountability measures and this is something eight and very serious about having banning governor being on the ground. We are gonna attract every penny to make sure that it's doing what it's supposed to do.

This transcript has been automatically generated and may not be 100% accurate.

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