Rural Innovation Stronger Economy Grant Program
The primary objective of the RISE program is to support jobs accelerator partnerships to improve the ability of distressed rural and energy communities to create high wage jobs, accelerate the formation of new businesses, and help rural communities identify and maximize local assets. Grants are awarded on a competitive basis. The minimum award per grant is $500,000 and the maximum award amount per grant is $2,000,000. Grant funds may be used to pay for up to 80 percent of eligible project costs. Grant funds may be used to pay for costs directly related to the purchase or construction of an innovation center located in a rural area; costs directly related to operations of an innovation center including purchase of equipment, office supplies, and administrative costs including salaries directly related to the project; costs directly associated with support programs to be carried out at or in direct partnership with job accelerators; reasonable and customary travel expenses directly related to job accelerators and at rates in compliance with 2 CFR 200.474; utilities, operating expenses of the innovation center and job accelerator programs and associated programs; and administrative costs of the grantee not exceeding 10% of the grant amount for the duration of the project.