This system is a part of an effort to encourage the event of know-how facilities outdoors of Silicon Valley.
WASHINGTON—Over the previous twenty years, technological innovation has primarily been concentrated in conventional tech hubs like California, New York, and Massachusetts. The Biden administration is now trying to broaden this potential, offering smaller tech hubs throughout the nation with extra alternatives to develop.
As a part of the trouble, the administration on July 2 introduced $504 million in funding for 12 regional tech hubs to assist the expansion of important applied sciences and sectors equivalent to semiconductors, biotechnology, synthetic intelligence, quantum computing, and clear power.
“These Tech Hubs will give areas throughout our nation the sources and alternatives needed to guide within the economic system of tomorrow whereas creating good-paying jobs for American staff,” Vice President Kamala Harris mentioned in a press release.
The U.S. Division of Commerce acquired almost 400 purposes for the fund final yr.
In October 2023, the administration introduced the designation of 31 tech hubs in 32 states and Puerto Rico, which was the primary section of funding approved by President Biden’s CHIPS and Science Act.
For the subsequent spherical of funding, this system is asserting 12 winners, spanning 14 states—Colorado, Florida, Georgia, Illinois, Indiana, Montana, Nevada, New Hampshire, New Mexico, New York, Ohio, Oklahoma, South Carolina, and Wisconsin.
Every winner will obtain a grant of as much as $51 million to assist strengthen important industries of their communities, the White Home mentioned.
“These tech hubs will permit Individuals to pursue careers in main know-how fields at dwelling,” in response to U.S. Secretary of Commerce Gina Raimondo.
“Individuals received’t have to maneuver and dwell in one of many few American cities which have traditionally been tech eco facilities,” she mentioned throughout a name with reporters on July 1.
Among the many recipients of funding are Headwaters Hub in Montana, Heartland BioWorks in Indiana, and Sustainable Polymers Tech Hub in Ohio.
Ms. Raimondo additionally famous that the U.S. tech ecosystem is “far too concentrated,” including that 90 % of latest tech jobs have gone to solely 5 cities across the nation previously 20 years.
“The truth is that there are sensible folks, nice entrepreneurs and modern analysis establishments all throughout the nation, and we’re leaving a lot potential on the desk if we don’t get them the sources to compete and win within the tech sectors.”
She mentioned that the president has requested Congress to supply extra funding to assist develop extra tech hubs throughout the nation.
The CHIPS and Science Act of 2022 approved $10 billion for the program over 5 years.
In response to a senior administration official, the president’s price range has requested an additional $4 billion for the initiative within the fiscal yr 2025 price range.
