Biden Announces $1.2 Billion Investment in Regional Tech Hubs
WASHINGTON – The Biden-Harris Governance announced on Monday, August 21, 2023, a $1.2 billion investment in 32 regional technology hubs across the United States. This initiative, funded through the CHIPS and Science Act, aims to bolster domestic innovation, create high-paying jobs, and strengthen U.S. competitiveness in critical technologies.
The investment will be distributed through the Regional Technology and Innovation Hub program, managed by the Department of Commerce’s Economic Growth Administration (EDA). The 32 hubs, spanning 32 states, will focus on a range of technologies including artificial intelligence, advanced manufacturing, biotechnology, and clean energy.
“For too long, investment in science and technology has been concentrated in a few regions,” said Secretary of Commerce Gina raimondo in a statement. “This investment will unlock the potential in communities across the country, creating good-paying jobs and ensuring that the United States remains a global leader in innovation.”
Key Hubs and Focus Areas:
- Pacific Northwest (Washington,Oregon,Idaho): Focusing on bioengineering and biotechnology,aiming to establish a leading center for biomanufacturing.
- Silicon valley (California): Concentrating on artificial intelligence, with a focus on responsible AI development and deployment.
- Mid-Atlantic (Pennsylvania, New Jersey, Delaware): Developing robotics and autonomous systems, targeting advancements in manufacturing and logistics.
- Great Lakes (Ohio, Michigan, Indiana): Advancing electric vehicle technology and battery manufacturing.
- South Central (Texas, Oklahoma, Arkansas, Louisiana): Focusing on advanced computing and semiconductor manufacturing.
- New England (Massachusetts, Connecticut, Rhode island): Concentrating on quantum computing and advanced materials.
The program is structured in three phases. The initial $1.2 billion investment represents Phase 1,which focuses on strategy development and capacity building. Phase 2 will involve larger-scale investments in infrastructure and research and development, and Phase 3 will focus on commercialization and scaling up of technologies.
The CHIPS and Science Act, signed into law in August 2022, authorized $52.7 billion for domestic semiconductor manufacturing, research and development, and workforce development. The Regional Technology Hub program is a key component of the act’s broader strategy to revitalize U.S. manufacturing and innovation.
The Biden Administration anticipates that the Regional Tech Hubs will create thousands of jobs and attract significant private sector investment.The program also aims to address regional disparities in economic chance and ensure that the benefits of technological innovation are shared more broadly across the country.
“This is about more than just creating jobs,” said President Biden in a statement.”It’s about building an economy that works for everyone, and ensuring that America remains the most innovative nation on Earth.”
The EDA will continue to provide technical assistance and support to the selected hubs as they develop and implement their strategic plans. Further details about the program and the selected hubs can be found on the Department of Commerce website: https://www.eda.gov/techhubs
