U.S. President Barack Obama is allocating millions of dollars to try to bolster job creation and business innovation in rural communities across the country.
The $15 million allocation comes in the form of a challenge between 13 federal agencies. The Rural Jobs and Innovation Accelerator challenge is aimed at bolstering job creation and economic growth in embattled rural communities.
The competition is being funded by the U.S. Department of Commerce's Economic Development Administration (EDA), the U.S. Department of Agriculture (USDA), the Delta Regional Authority (DRA), and the Appalachian Regional Commission (ARC). The challenge is also part of the administration's ongoing "We Can't Wait" efforts.
"We know that when rural America is growing, America as a whole is getting strong, and bringing everyone to the table creates more innovation and more jobs," said U.S. Commerce Department Secretary John Bryson.
The Rural Jobs Accelerator Challenge is anticipated to give out around 20 awards. To be eligible, projects must benefit rural communities. The application deadline is May 9, 2012.