Biden Allocates $504M to Boost 12 Tech Hubs Nationwide

Biden Allocates $504M to Boost 12 Tech Hubs Nationwide

The Biden administration is allocating $504 million in implementation grants for 12 'tech hubs' across the United States, including locations in Ohio, Montana, Nevada, and Florida. These grants aim to support the development of various advanced technologies such as quantum computing, biomanufacturing, lithium batteries, computer chips, and personalized medicine. The initiative seeks to distribute technological innovation more evenly across the country, rather than concentrating it in specific metropolitan areas.

Commerce Secretary Gina Raimondo highlighted the importance of providing resources to these tech hubs to enhance their competitiveness in the technology sector. The funding comes from the Commerce Department's Economic Development Administration. In October 2023, President Joe Biden designated a total of 31 tech hubs as part of this broader effort to boost innovation nationwide.

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