The Biden administration is expanding technological innovation beyond traditional tech hubs like California, New York, and Massachusetts by providing smaller tech hubs across the country with more opportunities to grow. As part of this effort, $504 million in funding has been announced for 12 regional tech hubs to support critical technologies such as semiconductors, biotechnology, artificial intelligence, quantum computing, and clean energy.
Vice President Kamala Harris stated that these Tech Hubs will empower regions across the nation to lead in the economy of tomorrow and create high-paying jobs for American workers. The U.S. Department of Commerce received nearly 400 applications for the fund, leading to the designation of 31 tech hubs in 32 states and Puerto Rico. The next round of funding will see 12 winners in 14 states receiving grants of up to $51 million to strengthen critical industries in their communities.
U.S. Secretary of Commerce Gina Raimondo emphasized that these tech hubs will enable Americans to pursue careers in leading technology fields without having to relocate to major tech hubs. Among the recipients of funding are Headwaters Hub in Montana, Heartland BioWorks in Indiana, and Sustainable Polymers Tech Hub in Ohio. Raimondo highlighted the need to decentralize the tech ecosystem, as currently, 90 percent of new tech jobs are concentrated in just five cities.
The CHIPS and Science Act of 2022 authorized $10 billion for the program over five years, with an additional $4 billion requested in the fiscal year 2025 budget to further support the growth of tech hubs across the country.
Source link
