The US Department of Commerce has selected 12 technology hubs to receive $504 million in government funding in order to drive regional innovation as part of the 2022 CHIPS and Science Act. In 2023, the administration of President Joe Biden announced the first phase of the technology hub programme, in which the Department of Commerce selected 31 regional technology hub locations out of 370 applicants. The programme is being administered by the department’s Economic Development Administration.
The second phase of the programme involved narrowing down the 31 locations to 12 tech hubs across 14 US states. These states include Colorado, Florida, Georgia, Illinois, Indiana, Montana, Nevada, New Hampshire, New Mexico, New York, Ohio, Oklahoma, South Carolina, and Wisconsin. Two hubs out of the 12 will cover two states each. Each of the locations selected will receive grants of up to $51 million in order to help accelerate and grow technology-based industries across the US.
The programme is specifically designed to create high-paying jobs and drive innovation across various sectors such as AI, semiconductors, quantum computing, and more. It also aims to support economic growth in areas that have been historically underinvested. Some of the awards already announced include $40 million for semiconductor manufacturing in New York, $19 million for climate crisis-related infrastructure in Florida, and $41 million for quantum information technology in Colorado and New Mexico.
Assistant Secretary of Commerce for Economic Development, Alejandra Y. Castillo, has stated that the 12 selected hubs represent the best of place-based economic development strategies by combining federal resources with regional assets, expertise, and coalitions to implement transformational opportunities.