The Biden administration announced on Tuesday, July 2, that it will provide $504 million in implementation funds for 12 Regional Technology and Innovation Hubs in Ohio, Montana, Nevada, and Florida.
This funding will be used to support research and development in areas such as quantum computing, biomanufacturing, artificial intelligence, lithium batteries, computer chips, personalized healthcare, and clean energy.
Unlike previous initiatives that focused on a few tech-savvy major metropolitan areas like San Francisco, Seattle, Boston, and New York, this funding expands nationwide to promote economic development in different geographical regions. Over the past 20 years, about 90% of job creation in the U.S. tech industry has been concentrated in these metropolitan areas.
The funded technology centers include:
1. Elevate Quantum Tech Hub in Colorado and New Mexico, receiving $41 million;
2. Headwaters Hub in Montana, receiving $41 million;
3. Heartland BioWorks in Indiana, receiving $51 million;
4. iFAB Tech Hub in Illinois, receiving $51 million;
5. Nevada Tech Hub in Nevada, receiving $21 million;
6. NY SMART I-Corridor in New York, receiving $40 million;
7. ReGen Valley Tech Hub in New Hampshire, receiving $44 million;
8. SC Nexus for Advanced Resilient Energy in South Carolina and Georgia, receiving $45 million;
9. South Florida ClimateReady Tech Hub in Florida, receiving $19 million;
10. Sustainable Polymers Tech Hub in Ohio, receiving $51 million;
11. Tulsa Hub for Equitable & Trustworthy Autonomy in Oklahoma, receiving $51 million;
12. Wisconsin Biohealth Teach Hub in Wisconsin, receiving $51 million.
Commerce Secretary Gina Raimondo stated in a telephone conference announcing the news, “The reality is, there are smart individuals, great entrepreneurs, and leading research institutions all over the country. If we don’t provide them with resources to compete and succeed in the tech areas that will determine the global economy of the 21st century, we will miss out on enormous potential.”
This funding comes from the Economic Development Administration (EDA) of the Commerce Department. In October 2023, Biden and Raimondo selected 31 regional tech centers out of over 370 applications nationwide to promote U.S. innovation, strengthen manufacturing, and create high-paying jobs across regions.
Raimondo mentioned that the government is working on providing more funds for the program so that all designated tech centers can access more resources to compete effectively.
The CHIPS and Science Act, signed into law by President Biden on August 9, 2022, authorizes a $10 billion investment in establishing 20 Regional Technology and Innovation Centers across the country. The act aims to bring together state and local governments, higher education institutions, unions, businesses, and community organizations to develop technology, innovation, and manufacturing, create job opportunities, and stimulate regional economic development.
Increased investment in high-tech manufacturing is a cornerstone of the Biden administration’s economic agenda, with President Biden currently promoting his efforts and achievements in communities nationwide.
Amidst intensified competition between the U.S. and China, technological competition is particularly fierce. In a speech at the U.S. Embassy in China on November 30, 2022, Raimondo mentioned that “China poses a series of threats to U.S. national security that are increasingly serious,” noting that China’s military deployments impact the security of U.S. allies and partners and disrupt the free flow of global trade. She pointed out that China “seeks dominance in certain advanced technology areas to advance military modernization, trample basic human rights at home and abroad.”
She expressed optimism about America’s strength, emphasizing that “the U.S. is the world’s largest economy, with a population that is globally the most diverse, and this diversity is the source of our extraordinary creativity and influence.”
(This article has been referenced from the Associated Press report)