In October 2023, President Joe Biden designated 31 tech hubs across the United States. The Biden administration is now working to secure additional funding for these hubs so that they can receive the resources they need to compete effectively. Commerce Secretary Gina Raimondo emphasized the importance of providing resources to smart people, entrepreneurs, and research institutions across the U.S. to help them compete and thrive in the tech sectors that will drive the global economy in the 21st century.
The funding for these tech hubs comes from the Commerce Department’s Economic Development Administration, and it has announced that it will provide $504 million in implementation grants for tech hubs in several states including Ohio, Montana, Nevada, and Florida. These grants will support the development of technologies such as quantum computing, biomanufacturing, lithium batteries, computer chips, personal medicine, and more. The goal is to promote technological innovation across the country, rather than concentrating it in a few metro areas like San Francisco, Seattle, Boston, and New York City.
The Biden administration aims to create opportunities for entrepreneurs, researchers, and businesses across the country by investing in a diverse range of technologies and industries. This funding is part of their broader efforts to promote technological advancement and economic development in all corners of the U.S., with a particular emphasis on supporting innovation and economic growth in regions that may not traditionally be seen as tech hubs. By doing so, they hope to ensure that no one gets left behind in this rapidly changing world of technology.
