President Joe Biden walks to the rostrum throughout an occasion on the economic system in the South Court Auditorium of the Eisenhower Executive Office Building on the White House complicated, Monday, Oct. 23, 2023.
Jacquelyn Martin | AP
WASHINGTON — The Biden administration on Monday named 31 areas spanning 32 states and Puerto Rico as know-how hubs, a transfer by the White House to spur personal investment and create jobs.
President Joe Biden introduced this system alongside Commerce Secretary Gina Raimondo. The creation of the tech hubs was licensed by way of the CHIPS and Science Act, which Biden signed into regulation final yr. Raimondo in May introduced the launch of the tech hub program with the goal of dispersing $500 million in grants.
“Over the previous few many years these communities have misplaced greater than jobs. They misplaced their sense of dignity, of alternative, their sense of pleasure,” Biden mentioned. “We’re going to change all that. Tech hubs are going to deliver this work to the place folks stay in communities all throughout America.”
The objective is to unfold technological innovation throughout the nation relatively than have it centered primarily in cities like San Francisco, New York, Boston and Austin.
The hubs are targeted on fostering innovation throughout industries together with clean power, synthetic intelligence, semiconductors, biotechnology, drugs, quantum computing and important minerals. Regions chosen for the hubs span your complete U.S. and embrace Oklahoma, Massachusetts, Colorado, Ohio, South Carolina, Washington, Alabama and Pennsylvania.
“These tech hubs might be transformational and so they’re part of an extended line of transformational investment we have made since I took workplace,” Biden mentioned. “And in consequence, I really imagine this nation is about to take off, as a result of for the primary time in a very long time we’re investing in America and we’re investing in the American folks. We’re investing in our future.”
The areas chosen for this system had been chosen from over 370 functions throughout 49 states and 4 territories, in accordance to the White House. Nearly 75% of the hubs are centered in small communities and rural areas and greater than 75% supporting what the White House deems “traditionally underserved communities.”
Designees are ready to apply for up to $75 million in federal funding, however as a result of solely $500 million was allotted by Congress, most won’t obtain a grant.