In times of economic hardship or stagnancy, grants that allow for job training or creation can help spur growth and get the economy back on track. Sometimes these grants are provided for specific scenarios, such as a natural disaster. Other times, the grants are applied for and granted on a fairly regular basis.
Grants for job creation are mostly given by state and federal governments. Grants often fund projects for development, expansion and improvements within a community—which in turn attracts and grows new business. Grants do not need to be repaid, though they often come with a specific set of stipulations or requirements. Here are a few examples of job creation grants:
1. Community Entitlement Grants Program—The Department of Housing and Urban Development (HUD) is the sponsor of this grant, which provides funds for businesses to create jobs and retain employees. It can also be used to fund the construction or renovation of public service facilities, roads and highways, and neighborhood centers. It is available to communities across the United States that are either 1) cities with more than 50,000 residents; or 2) counties with more than 200,000 residents.
2. National Emergency Grant—The United States Department of Labor passed out this $7.1 million grant to the New York City Housing Authority after Superstorm Sandy hit the city. With it, NYCHA, headed by chairman John Rhea, has been able to hire hundreds of temporary workers, providing them with income for up to six months while providing the community with assistance. Many lost their jobs after Sandy’s destruction, and even more had their homes lost or badly damaged. This grant is helping residents of NYC get back on their feet.
3. Green Innovation Challenge Grant—Passed by the California State Legislature in 2010, this grant provides a total of $20 million in five separate grants. It creates jobs, especially green jobs, helps create more energy-efficient buildings, and promotes green initiatives like renewable energy and water efficiency.
While the funding for grants is limited, they offer the potential for growth that could later make the created jobs permanent. Both NYCHA chairman John Rhea and general manager Cecil House praised the National Emergency Grant for helping hundreds of NYCHA residents get back on their feet, get back in control of their lives, and receive much needed restorations and repairs to their homes.