The INVEST in Our Communities Act reauthorizes and expands programs administered by the Economic Development Administration (EDA) to support economic development across the United States. The bill increases the federal government's cost-sharing from 50 percent to 60 percent for most projects, and allows 100 percent federal funding for small communities with fewer than 10,000 residents, disaster-affected areas, and nonprofits that cannot obtain local matching funds. The legislation creates new grant programs and initiatives, including the Hospitality and Outdoor-Recreation Supporting Tourism (HOST) grant program, which receives $100 million annually through fiscal year 2029 to support tourism, outdoor recreation, and hospitality industries. The bill establishes an Office of Tribal Economic Development within the EDA, creates technical assistance positions to help underresourced communities, and requires coordination between federal agencies to better support rural economic development. Additionally, the legislation authorizes flexible hiring practices and establishes disaster response teams to assist communities in post-disaster economic recovery.
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