Governor Evers Requests Release of $7.5 Million for Wisconsin’s Tech Hub_INITIALIZER_LINEBREAK_ALLOCATOR
Gov. Evers Requests $7.5 Million for Wisconsin’s U.S. Regional Tech Hub
Madison, Wis. – Gov. Tony Evers and the Wisconsin Economic Development Corporation (WEDC) are making moves to establish the state’s U.S. Regional Tech Hub by requesting the release of $7.5 million to BioForward Inc. This funding, approved as part of 2023 Wisconsin Act 96, aims to grow Wisconsin’s personalized medicine and biohealth technology sector.
The Tech Hub initiative includes plans to expand lab space, enhance industry coordination and collaboration, strengthen the supply chain, and develop apprenticeship programs to support the industry’s workforce. WEDC Secretary and CEO Missy Hughes emphasized the importance of fulfilling the state’s commitment to this groundbreaking partnership now that federal funding for Wisconsin has been approved.
Last week, Gov. Evers and Sen. Tammy Baldwin announced Wisconsin’s selection as a U.S. Regional Tech Hub by the U.S. Economic Development Administration, unlocking $49 million in federal funding. This designation is expected to create over 30,000 jobs in the personalized medicine sector and more than 111,000 indirect jobs in Wisconsin over the next decade. Additionally, the Tech Hub is projected to generate $9 billion in economic development within the state.
Gov. Evers expressed excitement about Wisconsin’s Tech Hub designation, highlighting the state’s history of innovation and readiness to meet the demands of the 21st century. The efforts to secure this designation have positioned Wisconsin at the forefront of research, innovation, and economic growth.
As Wisconsin prepares to lead the way in cutting-edge technology and industry advancements, the state’s official designation as a Tech Hub marks a pivotal moment in its economic development trajectory. Stay tuned for more updates on Wisconsin’s journey towards establishing a thriving tech ecosystem.
For more information on the state’s efforts to secure the Tech Hub designation, visit the official WEDC website.
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