Greensboro, NC -- Officials with the City of Greensboro announced they're in search of a $1 million economic development strategy to accelerate the local economy.
The city revealed its official request-for-proposals (RFP) and detailed plans on the $1 million challenge to find the best proposal from people living in Greensboro. The announcement came in a news conference at North Carolina A&T Wednesday afternoon.
The challenge is part of the U.S. Department of Commerce and Economic Development Administration's Strong Cities, Strong Communities (SC2) grant the city received last year.
The goal is to come up with a plan that will result in jobs, investment, and business opportunities.
A panel of local leaders will evaluate the proposals and choose three to six finalists. The top three entries will receive $55,000, $35,000 and $10,000, respectively.
Next, the finalists will have six months to develop their proposals into action plans, with the final evaluation coming in June 2014.
The overall winner will receive $1 million for their winning plan.
Also participating in the program are Hartford, CT, and Las Vegas.
City of Greensboro