Rural Economic Development (Watch)

Rural Economic Development (Watch)

HB 1193 (Latvala) and SB 1496 (Gainer) increase the maximum grant amounts that regionally based economic development organizations (EDO) can receive from the Department of Economic Opportunity from $50,000 to $250,000. New language is also added specifying that grants awarded to EDOs in rural areas of opportunity must be matched with nonstate resources equaling 50 percent of the grant amount. (Cook)