This may be one idea that Biden is doing that may actually help. This is especially true since President Trump spoke of and was doing the exact same thing. But that is Biden, who loves to take credit for everything good Trump was doing. Such as the whole insulin story and maximum monthly payments.
On Tuesday, the Biden administration announced the allocation of $504 million in grants to foster technological advancements across several U.S. states, including Ohio, Montana, Nevada, and Florida. This funding initiative targets the establishment of twelve new technology hubs that will focus on cutting-edge sectors such as quantum computing, biomanufacturing, lithium batteries, semiconductor production, and personalized medicine.
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+ Biden administration announces $504 million to support 12 US tech hubs@SaroyaHem and @ShivanChanana bring you tech news pic.twitter.com/33vViFjz0Q
— WION (@WIONews) July 3, 2024
This strategic investment aims to decentralize tech innovation, which has traditionally been dominated by major metropolitan areas like San Francisco, Seattle, Boston, and New York City. By distributing resources more broadly, the administration seeks to tap into the nationwide potential of various regions, encouraging local entrepreneurs and leveraging the expertise of research institutions across the United States.
Commerce Secretary Gina Raimondo emphasized the administration’s commitment to expanding technological growth beyond the usual hotspots. In a briefing call about the grants, Raimondo highlighted the importance of supporting diverse areas to maintain the U.S.’s competitive edge in the global tech landscape of the 21st century.
Today, @CommerceGov and @US_EDA announced the Tech Hubs awardees to advance U.S. Competitiveness and accelerate the growth of industries of the future in regions across America. #EDATechHubs
View the awardees: https://t.co/ohybxEajTQ pic.twitter.com/IbqVsPXuCQ
— EDA (@US_EDA) July 2, 2024
The funding is sourced from the Commerce Department’s Economic Development Administration. Following President Joe Biden’s designation of 31 tech hubs in October 2023, there has been a push for increased financial support to ensure these hubs can effectively contribute to their respective fields.
The distribution of the grants includes $41 million each for the Elevate Quantum Tech Hub, which spans Colorado and New Mexico, and the Headwaters Hub in Montana. Similarly, the Heartland BioWorks in Indiana and the iFAB Tech Hub in Illinois each received $51 million. Other significant allocations include $21 million to the Nevada Tech Hub and $40 million to the NY SMART I-Corridor Tech Hub in New York.
The Biden administration allocated $504 million to tech hubs.
The Biden administration announced $504 million in funding for tech clusters in Ohio, Montana, Nevada, Florida, and elsewhere.
The monies will go towards advances in quantum computing, biomanufacturing, lithium… pic.twitter.com/lociTUlTp9
— DailyNoah.com (@DailyNoahNews) July 2, 2024
Additional grants were awarded to the ReGen Valley Tech Hub in New Hampshire and the SC Nexus for Advanced Resilient Energy, which supports both South Carolina and Georgia, each receiving $44 million and $45 million respectively. The South Florida ClimateReady Tech Hub received a $19 million investment.
Further funding of $51 million was allocated to three additional hubs: the Sustainable Polymers Tech Hub in Ohio, the Tulsa Hub for Equitable & Trustworthy Autonomy in Oklahoma, and the Wisconsin Biohealth Teach Hub. This financial backing underscores the administration’s intent to empower these regions to innovate and excel within their tech sectors, ultimately contributing to a more diversified and robust national economy.
Major Points
- The Biden administration announced $504 million in grants to establish twelve technology hubs across various U.S. states, including Ohio, Montana, Nevada, and Florida.
- These hubs will focus on advanced technologies such as quantum computing, biomanufacturing, lithium batteries, semiconductor production, and personalized medicine.
- The initiative aims to decentralize tech innovation from traditional hotspots like San Francisco and New York City to diverse locations across the country.
- Commerce Secretary Gina Raimondo highlighted the strategy to utilize local talent and research institutions nationwide to enhance the U.S.’s global competitiveness in technology.
- Funding for these hubs was provided by the Commerce Department’s Economic Development Administration, with individual grants supporting specific technology sectors in designated states.
Al Santana – Reprinted with permission of Whatfinger News
