Business & Economy
7:30 am
Fri September 21, 2012

Greensboro Gets $1M Grant To Grow Economy

The City of Greensboro is getting a one million dollar federal grant designed to generate economic growth. The grant is part of a program aimed at encouraging innovative ideas, strategies and perspectives for long-term job growth. Greensboro will hold a competition and request ideas for ways to bolster the local economy.

The issue here is to get resources to the city so that they can actually move forward and develop the plans that they need.

"The issue here is to get resources to the city so that they can actually move forward and develop the plans that they need; to overcome whatever the challenges are they’ve been facing in the past decade," according t0 Rebecca Blank, the acting deputy secretary of the US Department of Commerce.

Blank says the grant should bring together the city and experts in transportation planning, business incubation and engineering. The city will evaluate all proposals and can allocate the money however it chooses. Hartford, Connecticut and Las Vegas, Nevada also received million dollar grants.