University Of Memphis Chosen As Finalist In EDA's $1 Billion Build Back Better Regional Challenge

Press release from the University of Memphis:

December 15, 2021

The University of Memphis was named by the Economic Development Administration (EDA) as a finalist in the $1 billion Build Back Better Regional Challenge for its Digital Delta proposal. The UofM was the only finalist in the State of Tennessee.

The effort received substantial support from Congressman Steve Cohen, Governor Bill Lee and Mayor Jim Strickland.

The coalition will advance to Phase 2 and compete for up to $100 million in American Rescue Plan funding to develop industry in Memphis and Shelby County.

The challenge is assisting communities nationwide in their efforts to build back better by accelerating the economic recovery from the coronavirus pandemic and building local economies that will be resilient to future economic shocks. The Build Back Better Regional Challenge is the largest economic development initiative from the U.S. Department of Commerce in decades.

“We are pleased that our proposal was selected from amongst several worthy ones from across the state,” said Dr. Jasbir Dhaliwal, UofM executive vice president for Research & Innovation. “As Western Tennessee’s primary comprehensive research university, it is our duty to lead on economic development initiatives to build a strong technological and innovation ecosystem in Memphis.”

Digital Delta strives to build the most connected urban-rural innovation district in the United States. The proposal includes seven counties, including Shelby, Fayette, Haywood, Lauderdale and Tipton in Tennessee; DeSoto in Mississippi; and Crittenden in Arkansas to build sustainable economic development.

The UofM is part of a regional coalition of stakeholders from government, business, nonprofits and academia including the Greater Memphis Chamber, Epicenter, Start Co. and the Memphis Area Association of Governments that was awarded $500,000.

Phase 1 of the Build Back Better Regional Challenge invited coalitions to apply for funding to implement a collection of three to eight distinct but related projects in their region. Projects need to be in coordination with industry and community partners and aligned around a holistic vision to build and scale a strategic industry sector.

EDA received 529 applications from regions in all 50 states and five territories, and the 60 finalists represent regions that formed extraordinary coalitions, demonstrated regional needs and presented bold proposals to grow their target industry clusters. Ranging from rural communities and coastal towns to major metros, the finalists make up a diverse cross-section of the United States.

In Phase 2, finalists will compete for significant implementation assistance. EDA will award 20-30 coalitions each up to $100 million. These awards will assist communities in executing ambitious plans to supercharge their regional economies across a variety of strategic growth sectors. The deadline for Phase 2 applications is March 15, 2022.

This collaborative community initiative is being led by Dr. Cody Behles of the Division of Research & Innovation. He can be contacted at cbehles@memphis.edu for more information.

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This press release was produced by the University of Memphis. The views expressed here are the author’s own.