CHIPS and Science Act

Did you use the Recompete Mapping Tool to check your eligibility for this new EDA funding opportunity when the fact sheet and map were first released? If you did, and you got the response, “Contact your local economic development office” don’t stop there! EDA has updated its mapping tool in the past few days to reflect significant flexibility in program eligibility.

The upshot of the debt ceiling deal recently approved by Congress is that all nondefense discretionary spending will remain at its current level of $638 billion in FY 2024, which begins October 1. Additionally, some funds were marked for recission, including $150 million from the State Small Business Credit Initiative (SSBCI). All jurisdictions that have been approved or have applied for SSBCI funding will not see a decrease in their funds, according to an email from Treasury regarding SSBCI.