California will soon be on the receiving end of billions of dollars in public funding for economic development. An estimated $42 billion will come from the American Rescue Plan Act (ARPA) — the $1.9 trillion stimulus package designed to aid economic and public health recovery from the COVID-19 pandemic — and $48 billion from Infrastructure Investment and Jobs Act (IIJA), totaling $93 billion in federal investment. A further $46 billion will come from the state’s Community Economic and Resilience Fund (CERF) and from the state’s budget surplus.
Mobility & Opportunity
UCLA Latino Policy and Politics Initiative in Inside Philantrophy: “California Foundations Look to Ensure Billions in Government Aid Are Allocated Equitably”
California will soon be on the receiving end of billions of dollars in public funding for economic development. An estimated $42 billion will come from the American Rescue Plan Act (ARPA) — the $1.9 trillion stimulus package designed to aid economic and public health recovery from the COVID-19 pandemic — and $48 billion from Infrastructure Investment and Jobs Act (IIJA), totaling $93 billion in federal investment. A further $46 billion will come from the state’s Community Economic and Resilience Fund (CERF) and from the state’s budget surplus.
