Director's Update - November 2021

Infrastructure investment and Jobs Act; Equitable innovations Accelerator; Small Business Flex fund milestone

Having trouble viewing this email? View it online Director's Update Message from Lisa Brown - November 2021 Federal infrastructure investments will strengthen Washington communities  There is a lot to unpack in the historic bi-partisan Infrastructure Investment and Jobs Act recently passed by Congress. This infrastructure package provides us a once-in-a-generation opportunity to repair and rebuild our roads and ports, expand broadband, combat climate change and more. Multiple federal agencies administering the $550 billion in new funding will determine the allocations for each state through a variety of programs over the coming months. While the final impact here in Washington is not yet known, initial state-by-state estimates based on formulas and past funding actions summarized in a CNBC article  suggest a potential $8.6 billion to our state. in addition, once competitive funding program guidelines are determined, we believe the impact will be much higher for Washington communities. In particular, Commerce is well-positioned to see significant benefit as we leverage new funding opportunities to build on our priorities and state funding in clean energy and broadband. Some highlights of potential funding we'll be receiving or competing for a share of include: POWER AND GRID Grid infrastructure and resiliency Electric Grid Reliability and Resiliency program: $6 billion over 5 years, $1 billion set-aside for rural/remote areas Smart Grid investment matching grants: $3 billion Columbia Basin Power Management: $1.11 billion State Energy Program: $500 million over 5 years Rural/Municipal Utility Advanced Cybersecurity grants and technical assistance: $250 million Supply chains for clean energy technologies Battery processing and manufacturing: $3.1 billion Electric drive vehicle battery and second-life applications: $1 billion Fuels and technology infrastructure investments Establishing regional hubs for Clean hydrogen ($9.5 billion) and Carbon removal for direct air capture projects ($3.5 billion) Hydropower production, efficiency improvements and maintenance incentives: $753.6 million (total for FY22, three programs) Offshore energy storage: permits offshore energy storage, including battery storage for offshore wind Energy efficiency and building infrastructure Weatherization assistance: $3.5 billion in FY22 Energy efficiency and conservation block grants: $550 million Energy storage demonstration projects: $505 million Energy Efficiency Revolving Loan Fund Capitalization grants: $250 million for FY22 BROADBAND State deployment grants: $40 billion  Digital Equity Act: $2.75 billion to establish national formula and competitive programs around inclusion Rural area support: $2 billion Tribal broadband connectivity program grants: $2 billion  RESILIENCY State, local, Tribal and territorial grants: $1 billion over 4 years for cyber resiliency Building Resilient Infrastructure and Communities Program: $1 billion PORTS AND WATERWAYS $3.85 billion for land ports of entry $912 million for ferry boat and terminal construction ELECTRIC VEHICLE INFRASTRUCTURE $7.5 billion for charging networks and alternative fuel corridors See a full summary. Equitable investment is one of my top priorities as director of Commerce. We will be partnering with community leaders, local governments and others to ensure these investments and funding opportunities help strengthen all our communities. We look forward to learning more and sharing what we know as more details become available. Applications open for new Equitable Innovations Accelerator  Commerce recently joined with Find Ventures, a Washington state-based nonprofit whose mission is to fund entrepreneurs, to launch a groundbreaking new program to fund tech start-up founders from underserved communities. The Equitable Innovations Accelerator seeks to make "entrepreneurship for all" a reality by prioritizing earliest stage startups from underserved and historically marginalized communities. The new program is directly aligned with Commerce's focus on an investment in an equitable economic recovery. The accelerator is one of Commerce's Safe Start projects that are supported in part by a grant from the U.S. Economic Development Administration. Ten tech startups will be awarded up to $100,000 and have access to mentors, coaches and other supports. Interested entrepreneurs can join an upcoming information session on Dec. 6 or Jan. 14. Learn more and register for one the sessions at www.findventures.org.  Read our press release Read GeekWire's story Strengthening communities through international partnerships Washington state, BC leaders share strategies for cultivating growth at annual forum I was pleased to meet Mia Yen, Canada's Consul General to the Pacific Northwest and Alaska, and participate in a great panel discussion on the economic future of our region during the Pacific Northwest Economic Region (PNWER) annual leadership forum in Vancouver, BC. We talked about numerous opportunities for strengthening our partnerships on innovation, infrastructure and more to help our businesses and communities recover and grow.   Leading the way in the Blue Economy Chris Green, Assistant Director of our Office of Economic Development and Competitiveness, and Inger Solberg, Sr, VP of Sustainability for Innovation Norway, signed a memorandum of understanding last week during Pacific Maritime Expo in Seattle. The agreement furthers our ongoing collaboration on clean tech innovation for the Blue Economy. Read GeekWire's story to learn more. Broadband Update Digital Equity Forum to kick off community listening sessions in support of broadband for all Washington state has a goal of providing all residents access to high-speed internet by 2028. But digital equity is much more than laying fiber or linking to satellites to get people in rural areas connected. Affordability and adoption are equally important. Barriers to access, affordability and adoption impact people all across the state, particularly those who are elderly, have disabilities or are lower income. Once connected, people need to be able to afford devices and service and they need the knowledge and skills ("digital literacy") to use the internet securely and successfully. These are among the topics that will be addressed by a new Digital Equity Forum beginning in early December. Convened in partnership with the Washington State Office of Equity and Commerce's Broadband Office, the forum will include representatives of Tribal governments, state agencies, legislators, communities lacking or underserved by broadband, and other historically underserved and underrepresented communities. The forum will hold a series of listening sessions over the next year to ensure that community stories and voices are heard as it develops recommendations to the legislature.  Dr. Karen Johnson, Office of Equity Director, and Ernie Rasmussen, Commerce's Digital Equity Director will co-chair the Digital Equity Forum. LEARN MORE Sign up for e-mail updates from the Broadband Office. Small Business Flex Fund hits funding milestone  The Small Business Flex Fund hit a milestone recently, having now raised a total of $70 million in committed capital that will benefit small businesses and nonprofits, particularly those in underrepresented communities, across the state of Washington. To date the Flex Fund has provided over $21 million in loans to 244 small Washington businesses. Launched earlier this summer, the Small Business Flex Fund is a public-private partnership aimed at helping small businesses and nonprofits recover from the impacts of the COVID-19 pandemic and grow their business again. It began with a $30 million contribution from Commerce and has since raised an additional $40 million from Heritage Bank, JPMorgan Chase and WaFd Bank. The Flex Fund's successful public-private partnerships, including with Community Development Financial Institutions (CDFIs), was recognized in a Forbes magazine article.  Read the press release Learn more Washington state's aerospace innovation on worldwide display at the 2021 Dubai Airshow Aerospace leaders from Washington and across the globe were on the ground for the Dubai Airshow, the fastest-growing airshow in the world. It opened Nov. 14 after a two year-hiatus. The five-day event featured speakers, forums, pavilions and companies from more than 20 countries, as well as commercial, military and private aircraft displays. In collaboration with Greater Seattle Partners (GSP), Commerce hosted a delegation of nine Washington-based aerospace organizations. Read the full story Stay connected About Commerce Commerce works with local governments, businesses, community-based organizations and tribes to strengthen communities. The department's diverse portfolio of more than 100 programs and effective public and private partnerships promote sustainable community and economic development to help all Washingtonians thrive. For more information, visit http://www.commerce.wa.gov. For information on locating or expanding a business in Washington, visit choosewashingtonstate.com. Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. 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