HHS announces $700M grant opportunity

The day after President Obama's big jobs speech, the Health and Human Services Department framed a new round of healthcare grants as a tool to create thousands of new jobs.

HHS on Friday announced $700 million in new funding opportunities to build and upgrade community health centers. The bulk of the money is for long-term projects to expand existing health centers, enabling them to add new facilities and hire more staff. Short-term projects will control $100 million of the total funds announced Friday.

Community health centers employed more than 130,000 people last year, according to HHS.

The White House agreed to roughly $600 million in cuts to community health centers earlier this year.

The new round of grants is funded by the healthcare reform law.