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Gina Raimondo

AP News | Equities.com |

President Joe Biden’s administration is beginning to make $3 billion in economic development grants available to communities — a tenfold increase in the program paid for by this year’s COVID-19 relief bill.

Commerce Secretary Gina Raimondo said her agency on Thursday will begin accepting applications for the competitive grants, which officials hope will create hundreds of thousands of jobs and help struggling cities and towns make long-term investments to drive development for years to come.


Reuters | Equities.com |

U.S. Commerce Secretary Gina Raimondo said on Monday a proposed $52 billion boost in U.S. government funding for semiconductor production and research could result in seven to 10 new U.S. factories.

Raimondo said at an event outside a Micron Technology Inc chip factory that she anticipated the government funding would generate "$150 billion-plus" in investment in chip production and research - including contributions from state and federal governments and private-sector firms.