The City of Milwaukee is one of 22 organizations selected as a finalist as part of the federal government’s “Recompete Pilot Program,” which could eventually earn the city up to a $50 million investment that would support economic development efforts within the 30th Street Industrial Corridor.

There were 560 applicants to the Recompete Pilot Program nationwide. For now, the 22 finalists have received an initial $500,000 planning grant to continue developing a plan for how their final investment could be used.

The Recompete Pilot Program is funded through the CHIPS and Science Act. It was created with the aim of helping distressed communities create and connect people with good jobs. The city’s plan, called the Grow Milwaukee Recompete Plan, will be centered on the 30th Street Industrial Corridor due to the area’s “history of segregation and business exodus that has stunted economic prosperity in the surrounding area,” according to a Wednesday announcement from Sen. Tammy Baldwin.

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