Funding Sources to Support Business Preparedness
This tab includes federal funding sources that have been used to support adaptation in the business sector and examples of how state and local governments are funding and financing adaptation support for businesses. This is not intended to be a list of available grants for adaptation.
Resources are automatically presented by date. Apply additional filters to narrow by impact, state, region, jurisdictional focus, or funding source.
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New York State’s Energy Research and Development Authority (NYSERDA) developed the Clean Energy Workforce Development Program, committing more than $100 million through 2025 to converting the State’s workforce to a cleaner, more resilient future. Working with partners across the State - including small businesses, local governments, frontline community leaders, and more - NYSERDA is focusing on funding five programs in the clean energy sector, including: (1) training in energy efficiency and clean technology; (2) on the job/site training; (3) providing internships to young adults; (4) offering training on building operations and maintenance; and (5) funding contractors that provide clean energy training.
Related Organizations: New York State Energy Research and Development Authority (NYSERDA)
Resource Category: Education and Outreach
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The Storm Hardening and Resiliency Joint Agreement demonstrates how community-based organizations can advocate for investments in grid resilience and ensure that investments are made without significant rate increases for low-income customers. Vulnerabilities and inequities in energy infrastructure were exposed following Superstorm Hurricane Sandy in October 2012, which caused significant impacts to New York City’s (NYC) energy system. To protect customers, the region, and energy systems from future natural disasters, Consolidated Edison, Inc. (ConEd) proposed a $1 billion capital investment for years 2013 through 2016 to mitigate impacts of future extreme weather, protect infrastructure, harden energy system components, and facilitate restoration. The utility organized a “Resiliency Collaborative” process to decide on how funds will be spent in their rate application filing. A collaboration of 12 parties including ConEd, NYC agency officials, and nonprofit and academic stakeholders resulted in a Joint Agreement between state Public Service Commission (PSC), ConEd, and other collaborative parties that froze electric rates for two years and required $1 billion in investment in storm hardening and resiliency. The multi-year rate plans ensure that delivery rates will not increase until after the rate plans have ended. The plan also offers rate mitigation for customers while assuring continued safe and reliable service. The agreement also provides for the expansion of the ConEd low-income discount programs to ConEd’s electric and gas businesses for the benefit of low income customers.
Related Organizations: City of New York, New York , Consolidated Edison, Inc. (ConEd)
Resource Category: Solutions
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March 2019
The Opportunity Zones (OZ) program, created by the federal Opportunity Act as a part of the 2017 Tax Act , delegates to the U.S. Treasury the authority to set requirements for investment under the act’s tax credit system. The Kresge Foundation, seeing that Treasury requirements were first delayed and ultimately bare, set out to create its own set of guidelines. Kresge provides capitalization to projects in OZs to attract investment, and through covenants with its partners attempts to ensure that such investments are based in a framework of equity. Within a specific OZ, these covenants include stringent reporting requirements, the creation of a community advisory board explicitly containing members of the OZ’s community, and active promotion of OZ programs to OZ residents. Additionally, Kresge set out minimum standards for both real estate and business investments. Covenants for real estate investments include specifics such as: adopting an “anti-displacement” strategy for all housing investments, shifting focus to projects that create jobs for low-income communities, and mandating that at least 50% of all multifamily housing investments serve residents with incomes under 120% of the OZ’s average median income. For business investments, covenants include requirements that at least 50% of investments create living-wage jobs, and prohibitions on investments in industries that could be harmful to disadvantaged communities and typically create environmental justice issues. (e.g. oil, mining, firearms).
Related Organizations: The Kresge Foundation
Resource Category: Solutions
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June 20, 2018
Through the Great Urban Parks Campaign, in 2018 the National Recreation and Park Association has provided grant funding totaling $2,000,000 to 10-12 communities in the U.S. to support green stormwater infrastructure projects in parks. The intention of the program is to improve environmental and social conditions in underserved communities through promoting and advancing green infrastructure stormwater management projects within parks.
Related Organizations: National Recreation and Park Association
Resource Category: Funding
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June 1, 2015
Produced under the Obama Administration, this catalog profiles 62 federal funding programs that can support communities of Alaska in improving their climate resilience. For each program, it lists the program’s purpose, funding level, allowable applications, and who may qualify as an eligible applicant. Resources are emphasized that are useful to tribal and native Alaskan communities. The programs described in the catalog are wide ranging, including grants such as FEMA’s Pre-Disaster Mitigation Grant Program and the NIH/NIEHS “Research to Action” program aimed at helping communities assess their local environmental threats.
Related Organizations: Executive Office of the President of the United States
Resource Category: Funding
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The U. S. Department of Housing and Urban Development (HUD) Community Development Block Grant program (Entitlement Communities Grants and State Program Grants; CFDA Number: 14. 218, 14. 228) is designed to help cities and states provide affordable housing and expand economic opportunities; CDBG funds must go to principally benefit persons of low and moderate income. The CDBG program is a flexible program that provides communities with resources to address a wide range of unique community development needs.
Related Organizations: U.S. Department of Housing and Urban Development (HUD)
Resource Category: Funding
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Congress often funds state and local recovery efforts by appropriating funds to the Community Development Block Grant program (CDBG-DR) authorized by the Housing and Community Development Act of 1974 and administered by HUD. CDBG funds are typically allocated by formula grants to support economic development activities of state and local governments. Through supplemental appropriations, Congress allocates funds to HUD to distribute block grants to help communities support both short-term disaster relief as well as long-term recovery.
Related Organizations: U.S. Department of Housing and Urban Development (HUD)
Resource Category: Funding
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