Biden Administration Provides $504 Million in Grants for Tech Hubs in Multiple States
The Biden administration is investing in technological innovation across the country with the announcement of $504 million in implementation grants for a dozen “tech hubs” in states like Ohio, Montana, Nevada, and Florida. These funds will support the development of cutting-edge technologies such as quantum computing, biomanufacturing, lithium batteries, computer chips, personal medicine, and more.
Commerce Secretary Gina Raimondo emphasized the importance of spreading technological opportunities beyond just a few metropolitan areas, stating, “We’re leaving so much potential on the table if we don’t give them the resources to compete and win in the tech sectors that will define the 21st century global economy.”
The money for these grants comes from the Commerce Department’s Economic Development Administration, and President Biden has designated 31 tech hubs since October 2023. The administration is pushing for additional funding to ensure all designated tech hubs have the resources needed to compete effectively.
Some of the tech hubs receiving funding include the Elevate Quantum Tech Hub in Colorado and New Mexico, the Heartland BioWorks in Indiana, the NY SMART I-Corridor Tech Hub in New York, and the Tulsa Hub for Equitable & Trustworthy Autonomy in Oklahoma.
This investment aims to foster innovation and economic growth in a variety of regions across the United States, ultimately positioning the country at the forefront of technological advancements in the global economy.
