The Biden administration has announced $504 million in implementation grants for technology hubs across the country. This funding is aimed at supporting the development of cutting-edge technologies such as quantum computing, biomanufacturing, lithium batteries, computer chips, personal medicine and more.
The Democratic administration is looking to spread resources beyond traditional tech hubs like San Francisco, Seattle, Boston and New York City. In an effort to encourage technological innovation nationwide, Commerce Secretary Gina Raimondo emphasized the importance of supporting smart people, entrepreneurs and research institutions across the country to ensure that the U.S. remains competitive in the tech sectors that will define the 21st-century global economy.
The funding comes from the Commerce Department’s Economic Development Administration and is part of President Joe Biden’s initiative to designate 31 tech hubs in October 2023. Raimondo stated that the administration is advocating for additional funding for the program to ensure that all designated tech hubs can receive the necessary resources to compete effectively.
The technology hubs set to receive funding include Elevate Quantum Tech Hub in Colorado and New Mexico, Headwaters Hub in Montana, Heartland BioWorks in Indiana, iFAB Tech Hub in Illinois, Nevada Tech Hub, NY SMART I-Corridor Tech Hub in New York, ReGen Valley Tech Hub in New Hampshire, SC Nexus for Advanced Resilient Energy in South Carolina and Georgia, South Florida ClimateReady Tech Hub, Sustainable Polymers Tech Hub in Ohio and Tulsa Hub for Equitable & Trustworthy Autonomy in Oklahoma.
