The Biden-Harris administration has continued expanding its ‘Investing in America’ incentive by designating a number of new "Tech Hubs" that can act as central areas for innovation and expansion in the technology industry.
The regions were selected across 32 states and Puerto Rico, and were designated after being recognised as having ‘high-potential’.
Investing in America
The CHIPS and Science Act (Creating Helpful Incentives to Produce Semiconductors) - a bipartisan act put in place to boost manufacturing and research surrounding semiconductors - authorized the incentive as part of the Biden-Harris administration's plans to invest in domestic industry.
These 31 designations were selected from 400 applications made by local governments, labor and workforce partners, and industry associations who submitted plans for enhancing industry in their respective regions.
Assistant Secretary of Commerce for Economic Development, Alejandra Y. Castillo, said, “These outstanding Tech Hubs Designees exemplify place-based economic development strategies at their best: combining federal resources with regional assets, expertise, and coalitions to implement transformational opportunities. As each region develops its own strategy to catalyze innovation and job creation, the entire nation grows more secure and more competitive.”
The 31 Tech Hub regions were selected as part of ‘Phase 1’ of the programme. Strategy Development Grants were also awarded by the Economic Development Administration (EDA) to 29 regions to help boost planning and coordination for prospective Tech Hub regions.
“Innovation, cutting-edge research, and creativity can be found in every community across America. Thanks to President Biden’s Investing in America Agenda, the Tech Hubs program is seizing that potential and investing in regional consortia that will boost U.S. manufacturing, create more good-paying jobs and bolster U.S. global competitiveness,” said Deputy Secretary of Commerce Don Graves.
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