Biden Funds 12 'Tech Hubs' Nationwide: $504 Million Investment

Washington, Jul 2 (AP) The Biden administration said Tuesday that it was providing USD 504 million in implementation grants for a dozen “tech 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 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.

The tech hubs receiving funding include:

— USD 41 million for the Elevate Quantum Tech Hub in Colorado and New Mexico

— USD 41 million for the Headwaters Hub in Montana

— USD 51 million for Heartland BioWorks in Indiana

— USD 51 million for the iFAB Tech Hub in Illinois

— USD 21 million for the Nevada Tech Hub

— USD 40 million for the NY SMART I-Corridor Tech Hub in New York

— USD 44 million for ReGen Valley Tech Hub in New Hampshire

— USD 45 million for the SC Nexus for Advanced Resilient Energy in South Carolina and Georgia

— USD 19 million for the South Florida ClimateReady Tech Hub

— USD 51 million for the Sustainable Polymers Tech Hub in Ohio

— USD 51 million for the Tulsa Hub for Equitable & Trustworthy Autonomy in Oklahoma

— USD 51 million for the Wisconsin Biohealth Teach Hub.