The Biden-Harris Administration is taking significant steps to drive innovation, strengthen American manufacturing, and generate good-paying jobs in every region of the country. Today, President Biden and Secretary of Commerce Gina Raimondo unveiled a groundbreaking initiative that designates 31 communities as Regional Innovation and Technology Hubs (Tech Hubs). These Tech Hubs will serve as catalysts for investment in critical technologies that are key to economic growth, national security, and job creation.
Under the newly authorized Tech Hubs program, communities across the country will focus on developing and expanding innovative industries such as semiconductors, clean energy, biotechnology, artificial intelligence, and more. These Tech Hubs will bring together a diverse range of stakeholders including private industry, state and local governments, academic institutions, labor unions, Tribal communities, and nonprofit organizations. They will compete for implementation grants of up to $75 million to further develop these industries, invest in innovation, strengthen supply chains, and create high-quality jobs.
President Biden’s Investing in America agenda has already shown its efficacy in driving strategic public investments and attracting private sector funding. Since taking office, private companies have pledged over half a trillion dollars in clean energy and manufacturing investments. These investments include substantial funding for semiconductor manufacturing, electric vehicle and battery production, and biomanufacturing – all areas represented by the Tech Hubs announced today. These investments will enhance the competitiveness of U.S. businesses and workers, positioning them to lead the global economy of the future while bolstering national and economic security.
A crucial aspect of the Tech Hubs initiative is its commitment to equitable economic growth. For too long, opportunities for economic advancement have been concentrated in certain coastal cities. The Tech Hubs were deliberately selected to represent the diversity of America, with applicants from 49 states and four territories. This inclusivity ensures that nearly three-quarters of the Tech Hubs will significantly benefit small and rural areas, and over three-quarters will directly support historically underserved communities. Moreover, all Tech Hubs will prioritize the creation of good-paying, union jobs in the communities where workers reside.
In addition to the 31 Tech Hubs, the Department of Commerce will award 18 coalitions with Strategy Development Grants. These grants will support the development of economic plans that will enable them to compete in future rounds of the Tech Hub program.
The designated Tech Hubs span across 32 states and Puerto Rico, with each hub focusing on specific industries and technologies:
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By investing in these key industries and fostering collaboration among various stakeholders, the Tech Hubs program will accelerate the growth of cutting-edge sectors, boost local economies, and create sustainable jobs. This initiative marks a transformative step toward positioning regions all across America as leaders in innovation and technology, solidifying the country’s competitive edge in the industries of tomorrow.
Q: What is the purpose of the Tech Hubs program?
A: The Tech Hubs program aims to drive investment in critical technologies, spur economic growth, strengthen national security, and create high-quality jobs in communities across the United States.
Q: How were the Tech Hubs selected?
A: The Tech Hubs were chosen to represent the diversity of America, with applicants from 49 states and four territories. The selection process prioritized inclusivity, with a focus on benefiting small and rural areas as well as historically underserved communities.
Q: How will the Tech Hubs stimulate economic growth?
A: The Tech Hubs will bring together various stakeholders, including private industry, government organizations, academic institutions, and labor unions. Through collaboration, these Tech Hubs will receive significant funding to develop key industries, invest in innovation, and create job opportunities.
Q: What industries will the Tech Hubs focus on?
A: The Tech Hubs will prioritize the development of industries such as semiconductors, clean energy, biotechnology, artificial intelligence, and more. These industries are crucial to America’s future economic competitiveness.
Q: How will the Tech Hubs benefit workers?
A: The Tech Hubs will prioritize the creation of good-paying, union jobs in the communities where workers live. By investing in these industries of the future, the Tech Hubs will enhance employment opportunities and support sustainable growth.
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