The Biden administration has announced a significant investment of $504 million to establish 12 regional technology hubs across the United States. This initiative, part of the second phase of the Tech Hubs program under the CHIPS and Science Act, aims to bolster research and development in critical technological areas such as quantum computing, semiconductor manufacturing, and autonomous driving.
The newly funded tech hubs are strategically located in Colorado, Florida, Georgia, Illinois, Indiana, Montana, Nevada, New Hampshire, New Mexico, New York, Ohio, Oklahoma, South Carolina, and Wisconsin. Each hub will receive grants ranging from $19 million to $51 million, designed to foster innovation and create high-paying jobs in these regions.
“These Tech Hubs will give regions across our nation the resources and opportunities necessary to lead in the economy of tomorrow while creating good-paying jobs for American workers,” said Vice President Kamala Harris.
Several of these hubs will focus on fields that are currently prioritized by the tech industry. For instance, the NY SMART I-Corridor Tech Hub in New York will enhance regional chip manufacturing capabilities, while the Tulsa Hub for Equitable & Trustworthy Autonomy in Oklahoma will develop autonomous vehicles for sectors such as agriculture and transportation.
The Elevate Quantum Tech Hub in Colorado will delve into emerging technologies, particularly exploring new applications of quantum computers in artificial intelligence and sustainability. The healthcare sector is also a priority for researchers at this facility.
According to the White House, four of the hubs will focus on sustainability initiatives. One such facility aims to build a comprehensive lithium lifecycle cluster, covering extraction, processing, manufacturing, and recycling. Additionally, four more regional hubs will host biotechnology initiatives, including drug development and personalized medicine.
The iFAB Tech Hub in Illinois will develop precision fermentation technology to convert unused corn into new products, including food ingredients, chemicals, and other materials. This initiative highlights the diverse range of research areas that these hubs will cover.
“Regional Tech Hubs will strengthen American leadership in industries of the future, create jobs, and spur economic growth in all of America,” the White House stated.
The Tech Hubs program was launched through the 2022 CHIPS and Science Act, which allocated $39 billion in direct grants to the semiconductor sector. Semiconductor companies also have access to $75 billion in loans and loan guarantees. Earlier this year, Intel Corp. received $19.5 billion in CHIPS Act grants and loans to expand its domestic chip infrastructure, with most funds directed towards developing the Intel 18A manufacturing process, expected to launch next year. Samsung Electronics Co. Ltd. and other industry players have also benefited from billions of dollars in CHIPS Act financing.
The Department of Commerce’s Economic Development Administration (EDA) announced the $504 million in implementation grants as part of the second phase of the Tech Hubs program. The initiative aims to develop clusters of businesses, communities, and higher education institutions focused on accelerating technology deployment across America.
The Commerce Department initially announced 31 Tech Hubs in October as part of Phase 1 of the program. The Phase 2 project implementation funds have now narrowed that list to 12 winners. If additional funding becomes available, the EDA plans to invest in more Tech Hubs, as the demand for funding was high in Phase 2, with the 31 hubs collectively requesting $2 billion.
“Today’s announcement that the Department of Commerce is investing $504 million in Regional Technology and Innovation Hubs across the country will ensure that the benefits of the industries of the future – from artificial intelligence and clean energy to biotechnology and more – are shared with communities that have been overlooked for far too long, including rural, Tribal, industrial, and disadvantaged communities,” Vice President Kamala Harris said in a press release.
The 12 Tech Hubs receiving funding in Phase 2 include:
– Elevate Quantum Tech Hub in Colorado and New Mexico ($41 million)
– Headwaters Hub in Montana ($41 million)
– Heartland BioWorks in Indiana ($51 million)
– iFAB Tech Hub in Illinois ($51 million)
– Nevada Tech Hub in Nevada ($21 million)
– NY SMART I-Corridor Tech Hub in New York ($40 million)
– ReGen Valley Tech Hub in New Hampshire ($44 million)
– SC Nexus for Advanced Resilient Energy in South Carolina and Georgia ($45 million)
– South Florida ClimateReady Tech Hub in Florida ($19 million)
– Sustainable Polymers Tech Hub in Ohio ($51 million)
– Tulsa Hub for Equitable & Trustworthy Autonomy in Oklahoma ($51 million)
– Wisconsin Biohealth Tech Hub in Wisconsin ($49 million)
Notably, some Tech Hubs did not receive funding, including the Baltimore Tech Hub and the PROPEL Tech Hub, which would serve the Philadelphia, Camden, and Wilmington areas.
The CHIPS and Science Act authorized $10 billion for the program over five years, with Congress providing the EDA with $541 million to date. “Thanks to President Biden’s commitment to his investing in America agenda, these 12 Tech Hubs will play a critical role in accelerating America’s leadership in the industries of the future, all while creating high-quality, family-sustaining 21st-century jobs in people’s backyards,” said Secretary of Commerce Gina Raimondo.
“We’re excited to see this initial round of implementation funding supporting a surge of new jobs, new technologies, and new energy to bolster America’s competitiveness,” added Assistant Secretary of Commerce for Economic Development Alejandra Castillo.
Source: SiliconANGLE, EDA
