Getting Ready for Investment in SWPA
The funding landscape for community and economic development is undergoing major shifts. According to the Urban Institute (2026), federal place-based spending rose from $44.1 billion in 2010 to $60.7 billion in 2024, while direct funding to local governments plummeted from 34.1% to just 15.7% of these totals over the same period. Such declines, along with the loss of IRA and BIL grants, only increases the competitiveness of state grant resources. Meanwhile, southwest PA municipalities are growing more reliant upon competitive public grants just as they become more difficult to access. On average, competitive federal, state, and local grants made up about 1% of municipal revenue in the region in 2016. By 2023, this increased to 1.7%-- a 77% increase in grant reliance in less than a decade (SWPA Grant Investment Explorer, 2026).
Now more than ever, true success is not just about chasing money– it is about doing the foundational work to ensure projects are ready for investment.
This challenging environment paints a clear and urgent picture: communities need strategic pathways to unlock investment. Securing a project's future means moving beyond grants to creatively combine loans, tax credits, and private capital. Yet, finding the dollars is only half the battle. Communities must still address the perennial hurdles that sink projects regardless of the funding climate: creating powerful visions, building deep support, and expanding local capacity for impact. Now more than ever, true success is not just about chasing money– it is about doing the foundational work to ensure projects are ready for investment.
CoHub’s Investment Readiness Framework
In 2024, we developed an Investment Readiness Framework to help guide the way. The framework offered 15 criteria across five impact areas– purpose, impact, feasibility, governance, and funding– to help community leaders assess their projects and access technical assistance. This framework was informed by a review of state and federal grant criteria; peer reviewed papers on transformative governance and investment; grey papers on innovation, public admin, and finance; and 15 interviews with regional and national leaders.
As we re-launch as the Community Project Hub of Southwestern Pennsylvania, we are excited to share a refined framework that will continue to drive our work. A project becomes investment-ready when four key elements begin working together:
Purpose
A clearly identified need shaped by local priorities, community input, and a strong understanding of place.
innovation
Creative, practical solutions grounded in real-world conditions and long-term community impact.
support
Partnerships, leadership, and community alignment strong enough to sustain momentum.
resources
Access to funding, financing, and resources that can support both implementation and long-term success.
The Readiness Diamond illustrates how these elements inter-relate. Balance is key. To build a strategic fundraising approach that is mission-centered while targeted to opportunities, community leaders must balance “purpose” with “resources.” Likewise, to ensure that vision can be effectively implemented, communities must balance “innovation” with “support.”
How the framework can help your project
CoHub’s Investment Readiness Framework can help you:
Access strategic, no-cost assistance to make your project a reality
CoHub is here to help communities make projects happen at all stages of readiness– from the idea stage to implementation. Throughout our intake process, we listen closely, get to know your work, and use our framework to help us suggest opportunities to leverage your project’s strengths and identify where you most need support. Every community we partner with receives a report detailing their readiness score and suggested pathways for strategic progress. From there, we offer no-cost technical assistance and connect you with the resources and partners you need. Complete our intake form or reach out to our team to get started!
Find tools and resources
CoHub is always creating new tools and resources to help communities across our region succeed. Our readiness framework helps guide our research and resource development to ensure we are building solutions for real needs. Check out our Grant Investment Explorer, curated resource library, and success in the Mon Valley and Greene County to see how readiness looks in action.
To find out more about how the framework can help you, please reach out to sarah@swpahub.org.