By: Rhett Buttle
On Monday, President Biden and Secretary of Commerce Gina Raimondo announced the designation of 31 communities across the country as Regional Innovation and Technology Hubs (Tech Hubs) through the Department of Commerce Economic Development Administration (EDA). This program will boost small businesses across the country by helping develop and grow innovative industries that range from semiconductors to clean energy, critical minerals, biotechnology, and artificial intelligence.
“Our nation needs to have an economic development strategy that is consistent with long-term investments and relentless in our pursuit for global competitiveness and job creation,” said Alejandra Castillo, Assistant Secretary of Commerce for Economic Development with the U.S. Department of Commerce.
Tech Hubs is a program authorized by the CHIPS and Science Act, which was signed into law by President Biden in 2022, to spur investment in technologies critical to economic growth, national security, job creation, and American competitiveness. It is a critical part of the Bidenomics strategy to grow the economy from the middle out and bottom up in every region across the country.
Monday’s announcement is the first phase of the program and each designated tech hub applied as a consortium and each Tech Hub applied as a consortium of higher education, government, industry, economic development, labor or workforce, and other organizations focused on innovation. Of the nearly 200 consortia that applied, EDA designated the 31 that demonstrated that their region can create and deliver these critical technologies.
“Our Tech Hubs Program is fundamental to that mission and will supercharge innovation across the nation by spurring cutting-edge technological investments and creating 21st century job opportunities in people’s backyards,” said Secretary Raimondo when the program was announced. “Each of these consortia will help us ensure the industries of the future – and their good-paying jobs – start, grow, and remain in the United States.”
The Tech Hubs are located across 32 states and Puerto Rico, with six including a tribal government, four being headquartered in low-population states, and four including coal communities. Some of the Tech Hubs include:
- Gulf Louisiana Offshore Wind Propeller, which is led by Louisiana State University with the purpose of transitioning Louisiana’s energy economy from oil and gas to offshore wind and renewable energy.
- Headwaters Hub, led by Accelerate Montana in western Montana to develop and deploy smart photonic sensing systems coupled with autonomous systems to address defense, resource management, and disaster prevention needs.
- Sustainable Polymers Tech Hub, which is led by the Greater Akron Chamber in Ohio, for addressing the climate and environmental impacts resulting from the use of fossil fuel-derived polymers, such as rubbers and plastics boosting sustainable polymer manufacturing.
Each of these Tech Hubs will have an opportunity to compete for up to $75 million in implementation grants to further develop these fields. It is important to note that the private sector is also investing heavily in our country’s future, as companies have already announced over half a trillion dollars in investments in clean energy and manufacturing in the United States since President Biden took office.
Over the past several decades, economic growth and opportunity seems to have moved to a few cities on the coasts, but Tech Hubs is designed to bring it to communities across the country. This is the type of investment that will support entrepreneurship & innovation.
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