New funding for tech hubs will support Main Street

WASHINGTON, DC – OCTOBER 23: US President Joe Biden speaks at an event on South Court. [+] The auditorium in the Eisenhower Executive Building at the White House in Washington, DC on October 23, 2023. During this event, Biden announced the launch of the Tech Hub Program. (Photo by Anna Moneymaker/Getty Images)

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The U.S. Department of Commerce’s Economic Development Administration (EDA) recently announced a second round of funding to provide $504 million in implementation grants to 12 tech hubs that will support Main Street by accelerating industry growth across the United States.

The program was created under the CHIPS and SCIENCE Act to ensure that communities outside of traditional coastal tech regions benefit from innovation and technology development to grow their local economies from the bottom up and middle out. Last year, President Biden announced the designation of 31 Tech Hubs in communities across the country. Each hub brings together businesses, state, local and tribal governments, academic institutions, labor unions and nonprofits with a shared vision for regional economic growth.

The next phase of funding will award implementation grants of up to $51 million each to 12 awardees to help accelerate and grow local industries across 14 states. Eligible tech hubs include:

Heartland BioWorks aims to transform central Indiana into a global leader in biotechnology and biomanufacturing by expanding capacity to develop and deploy life-saving therapies. Sustainable Polymers Tech Hub, led by the Greater Akron Chamber in Ohio, aims to reduce the climate and environmental impacts of using fossil fuel-derived rubber and plastics by accelerating the manufacturing and commercialization of sustainable polymers. Tulsa Hub for Equitable & Trustworthy Autonomy (THETA Tech Hub) aims to develop and commercialize autonomous systems for initiatives such as agriculture, pipeline inspection, and regional transportation.

“Every American deserves the opportunity to thrive, no matter where they live. Today's announcement that the Commerce Department will invest $504 million in regional innovation hubs across the country will ensure that the benefits of future industries like artificial intelligence, clean energy and biotechnology are shared with communities that have long been overlooked, including rural, tribal, industrial and disadvantaged communities,” Vice President Kamala Harris said as the second round of funding was announced.

“These Tech Hub cities are some of the best examples of locally rooted economic development strategies, combining federal resources with local assets, expertise and collaboration to realize transformative opportunities,” said Commerce Under Secretary for Economic Development Alejandra Y. Castillo. “I'm pleased that this first round of implementation funding will support a surge of new jobs, new technologies and new energy to strengthen America's competitiveness.”

A common theme during an election year is how many communities are being left behind when it comes to economic growth and opportunity. The Tech Hubs program aims to breathe new life into some of these regions and close these gaps by supporting entrepreneurship and innovation. Working together, these hubs ensure that the industries of the future — and the countless jobs and small business opportunities they create — start, grow, and stay in the United States.

For more information, visit TechHubs.gov and on social media at #EDATechHubs.

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