Last week, Greensboro, NC; Hartford, Connecticut; and Las Vegas, Nevada launched economic development competitions as part of the SC2 Visioning Challenge (SC2 Challenge). Created by the Commerce Department’s Economic Development Administration (EDA), the SC2 Challenge selected the three cities to receive $1 million each to solicit innovative strategies that advance local economic development planning.
Through a fair and open process of participation, these competitions are expected to attract a wide range of new approaches to help the communities succeed in reaching their economic and job growth goals. Leveraging an extensive array of innovative ideas from a diverse field of participants is a key benefit of challenge initiatives.
The SC2 Challenge is part of the Strong Cities, Strong Communities Initiative (SC2), launched by the Obama administration in June 2011. SC2 is aimed at creating new partnerships between federal agencies and localities to spark economic development in communities that have faced long-term development challenges.