House Agriculture, Livestock and Water Committee passes bill to invest in the Rural Economic Development Initiative
DENVER, CO — The House Agriculture, Livestock and Water Committee today passed a bipartisan bill to put $5 million of state stimulus funds toward the Rural Economic Development Initiative Grant Program (REDI), which provides grants to strengthen and diversify rural economies and create new jobs. This bill is part of the Colorado Comeback state stimulus, a package of legislation that will invest roughly $800 million into helping Colorado recover faster and build back stronger. The bill passed by a vote of 10-0.
“Rural Colorado needs a boost after being hit hard by COVID-19, and the REDI program has a proven track record of providing direct support for economic development in rural communities,” said Rep. Mary Young, D-Greeley, sponsor of SB21-204. “Investing in the rural Colorado Comeback by providing more funds to the REDI program will help revitalize local economies across the state. It’s time to get our communities back up and running and work towards a prosperous future for rural Colorado.”
In an effort to help rural communities strengthen their local economies, SB21-204 transfers $5 million to the Rural Economic Development Initiative (REDI) Grant Program to be used for projects that create diversity and resiliency in the local economies of rural communities. The bill is also sponsored by Rep.Tanya Van Beber, R-Weld County. Over the past several years, REDI grants have funded improvements to historic buildings, investments in business centers, economic action plans, revitalization of infrastructure, and other economic development initiatives that create and retain jobs and build capacity in rural communities around the state.