“President Biden called on federal agencies to advance equity by identifying and addressing barriers to equal opportunity that underserved communities face,” said Alejandra Y. Funded through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, this initiative is a part of EDA’s commitment to ensuring the consistent and systemic, fair, just, and impartial treatment of all individuals, including individuals who belong to underserved communities. NGIN is partnering with two organizations - Local Initiatives Support Corporation and the International Economic Development Council - on program development and delivery.Įquity Impact Investments will deliver a transformative, three-year, capacity-building program to 120 organizations operating at the forefront of equitable development in the United States. Established in 2018, NGIN is a nonprofit knowledge, insight, and innovation hub supporting economic development practitioners in advancing inclusive economic growth and closing structural opportunity gaps. Today, the Networks program announced the award of a $5.5 million grant to New Growth Innovation Network (NGIN) to design and launch a new initiative, Equity Impact Investments. Therefore, last year, we elevated ‘equity’ as our top investment priority. The Economic Development Administration (EDA) recognizes the need for more resources to improve technical assistance and capacity building in underserved populations and communities’ representation in local economic development. Castillo, said that Equity Impact Investments “personifies equity in action.” (Image courtesy of RTW Photography) Yasmina McCarty, pictured (left) in this 2022 photo with Assistant Secretary of Commerce for Economic Development Alejandra Y.

Linkedin icon