Accessing Economic Diversification in the Northern Mariana Islands

GrantID: 77219

Grant Funding Amount Low: $55,000

Deadline: Ongoing

Grant Amount High: $400,000

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Summary

This grant may be available to individuals and organizations in Northern Mariana Islands that are actively involved in Income Security & Social Services. To locate more funding opportunities in your field, visit The Grant Portal and search by interest area using the Search Grant tool.

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Education grants, Employment, Labor & Training Workforce grants, Financial Assistance grants, Health & Medical grants, Income Security & Social Services grants, International grants.

Grant Overview

The Northern Mariana Islands (NMI) face significant economic development challenges due to their remote location and limited economic diversification. The territory's economy is heavily reliant on tourism, which is vulnerable to global market fluctuations and natural disasters. According to the NMI's Economic Development Council, the territory's GDP is heavily concentrated in a few key industries, including tourism, garment manufacturing, and agriculture. Local businesses and organizations face significant barriers in accessing capital, technical assistance, and other resources needed to drive economic growth and diversification. The grant funding available to 501(c)(3) nonprofit organizations serving the NMI can help address these challenges by supporting business development programs, tourism initiatives, and infrastructure support. The funding will prioritize organizations that can effectively serve the NMI's unique economic development needs, including the need for greater diversification and resilience. Who faces these challenges in the NMI? Local businesses, entrepreneurs, and community organizations are all impacted by the territory's limited economic diversification. The NMI's business community is characterized by a high percentage of small and micro-enterprises, which often lack access to capital and technical assistance. Unlike neighboring Pacific island nations, the NMI's status as a US territory provides access to certain federal resources and programs, but also creates unique economic development challenges. Key geographic anchors include the territory's remote location, limited transportation infrastructure, and vulnerability to natural disasters. Economically, the NMI is driven by tourism, garment manufacturing, and agriculture. Demographically, the territory has a diverse population with a mix of Chamorro, Carolinian, and other ethnic groups. ## Economic Diversification in the Northern Mariana Islands ## The funding will support organizations that can effectively promote economic growth and diversification in the NMI. ## Addressing Economic Development Barriers ## The grant funding will prioritize organizations that can address the NMI's unique economic development challenges, including limited access to capital and technical assistance.

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Grant Portal - Accessing Economic Diversification in the Northern Mariana Islands 77219

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