Description of the Indicator
The indicator measures the amount of federal funding provided as grants and cooperative agreements infused into each county annually. This funding is distributed to government entities, higher education institutions, and nonprofit organizations for various projects.
Why is it important?
The infusion of capital into a region serves as an economic generator. It creates jobs and business opportunities that ripple through the economy to generate even more jobs and new businesses (the multiplier effect). Additionally, many capital and infrastructure projects receive funding from federal dollars.
How is the region performing?
There were increases in federal funding from 2022 to 2023. The increases were primarily in the form of grants and contracts, with direct payments and loans showing nominal changes. Other forms of federal financial assistance decreased.