The Appalachian Regional Commission (ARC) recently announced a $44.4 million investment package through the Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) Initiative to expand and diversify the economy in the Appalachian region’s coal-impacted communities.
The 54 awards are projected to create or retain over 5,700 jobs, leverage more than $39 million in private investment, create or retain 2,940 businesses and train thousands of workers and students in the broadband, entrepreneurship, substance abuse recovery, tourism and other industry sectors in communities in nine Appalachian states.
“The downturn of the coal market has been devastating to Appalachian communities, especially those that relied on coal extraction and related supply chains for generations,” ARC Federal Co-Chairman Tim Thomas said. “POWER grants are playing a critical role in supporting these communities as they diversify economies, invest in growth-oriented infrastructure, train a next-generation workforce, and ingrain resiliency and hope into their local fabric. Ensuring a prosperous future in coal-impacted communities is something Appalachia will do together. I am very proud of the leadership and innovation shown by this round of POWER grantees.”
More than $14.6 million, or 33 percent, of the investments will develop business incubators, increase access to capital and provide other services to advance entrepreneurship in Kentucky, Ohio, Pennsylvania, Tennessee, and West Virginia.
Over $13 million, or approximately 30 percent, of the investments will support broadband development and expansion in rural and underserved areas in New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia.
More than $8.3 million, or 19 percent, of the investments will focus on workforce-to-recovery and other comprehensive strategies to strengthen the recovery ecosystem in Kentucky, North Carolina, Ohio, Virginia, and West Virginia.
POWER is a congressionally funded initiative that uses federal resources to help communities and regions that have been impacted by job losses in coal mining, coal power plant operations, and coal-related supply chain industries.
With the recent announcement, ARC has invested over $190 million in 239 projects across 326 counties in Appalachia. ARC is working with Chamberlin/Dunn LLC, a third-party research firm, to monitor, analyze, and evaluate these investments.