Greensboro Offering $1M For Economy-Spurring Idea

6:57 PM, Jan 28, 2013   |    comments
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Courtesy: Getty Images

Greensboro, NC -- The City of Greensboro will launch a contest next month that will ultimately reward someone with $1 million for creating a proposal that spurs the city's economic growth.

In a news release, the city says the "economic catalyst challenge" is the result of a grant it got in 2012 from the US Department of Commerce Economic Development Administration's "Strong Cities Strong Communities (SC2)" program.

When the contest launches in mid-February, the city will be looking for "economic development organizations and individuals throughout the country" to "offer ideas for boosting Greensboro's economy." That phase will run until November.

From there, as many as six proposals will be asked to develop full economic development plans. An evaluation panel selected by the city manager and consisting of business leaders and a city council liaison will choose a $1 million winner in June 2014.

The city says it is one of three across the country -- including Hartford, Conn., and Las Vegas, Nev. -- to participate in the SC2 challenge.

To learn more about the challenge, the city encourages people to call (336) 373-2489 and choose "option 2."

WFMY News 2

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