EDA pledges $504m funding to designated tech hubs across US

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Focus areas for the tech hubs include AI, quantum computing as well as sustainable and climate-resilient infrastructure

The US Department of Commerce’s Economic Development Administration (EDA), has announced another funding round of approximately $504m in implementation grants to 12 Tech Hubs to scale up the production of critical technologies.

In addition, the aim of the programme is to create jobs in innovative industries, strengthen economic competitiveness and national security, and accelerate the growth of industries of the future in regions across the US.

Innovation hubs

The Tech Hubs programme is a flagship initiative of President Biden’s administration to invest in and grow the economies in communities across the country.

“Every American deserves the opportunity to thrive, no matter where they live. Today’s announcement that the Department of Commerce is investing $504m in Regional Technology and Innovation Hubs across the country will ensure that the benefits of the industries of the future – from artificial intelligence and clean energy, to biotechnology and more – are shared with communities that have been overlooked for far too long, including rural, tribal, industrial, and disadvantaged communities,” said vice president Kamala Harris.

“These Tech Hubs will give regions across our nation the resources and opportunities necessary to lead in the economy of tomorrow while creating good-paying jobs for American workers.”

“These 12 awardees embody the innovation and creativity that can be found nationwide, boosting US manufacturing and bolstering US global competitiveness, bringing President Biden’s Investing In America agenda to the forefront”

“The Department of Commerce is laser focused on expanding economic opportunity to every corner of this country,” said deputy commerce secretary Don Graves.

“The Tech Hubs programme is a commitment to American economic prosperity and success. These 12 awardees embody the innovation and creativity that can be found nationwide, boosting US manufacturing and bolstering US global competitiveness, bringing President Biden’s Investing In America agenda to the forefront.”

Phase 1 of the programme identified 31 Tech Hubs in geographically diverse, high-potential regions across the country with demonstrated expertise in emergent technology sectors. Collectively, these Tech Hubs secured well over a thousand commitments, attracting more than $4bn in investment commitments and catalysing meaningful public and institutional policy changes that support their strategies.

In Phase 2, the Tech Hubs developed and proposed projects to propel their growth into globally recognised regions that produce and deliver the technologies of the future.

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