Biden Funds 12 Tech Hubs: $504 Million for Innovation

Washington, Jul 2 (AP) The Biden administration said Tuesday that it was providing USD 504 million in implementation grants for a dozen technology hubs in Ohio, Montana, Nevada and Florida, among other locations.

The money would support the development of quantum computing, biomanufacturing, lithium batteries, computer chips, personal medicine and other technologies.

The Democratic administration is trying to encourage more technological innovation across the country, instead of allowing it be concentrated in a few metro areas such as San Francisco, Seattle, Boston and New York City.

“The reality is ... there are smart people, great entrepreneurs, and leading-edge research institutions all across the country," Commerce Secretary Gina Raimondo said in a call previewing the announcement. "We're leaving so much potential on the table if we don't give them the resources to compete and win in the tech sectors that will define the 21st century global economy."

The money comes from the Commerce Department's Economic Development Administration. In October 2023, President Joe Biden designated 31 tech hubs. Raimondo said the administration was pushing for more funding for the program so that all the designated tech hubs can get additional resources to compete.