The Economic Development Administration plays a central role in President Biden’s Investing in America agenda and uses the Tech Hubs as an innovation strategy.
This program aims to lay the groundwork for U.S. global leadership in critical technologies that will strengthen economic and national security in the future, according to an April 14 EDA release. By investing directly in high-potential U.S. regions, the EDA aims to transform them into globally competitive technology and innovation centers.
“With the Tech Hubs program, we can better ensure America remains at the leading edge of developing and delivering critical technologies,” Secretary of Commerce Gina Raimondo said in the release. “This also means we can ensure more Americans have the tools they need to get into the high-paying, quality jobs of the future. This is imperative not just for our economic security, but for our national security.”
In its implementation of the bipartisan CHIPS and Science Act, the EDA soon will release a detailed notice of funding opportunity and seek applications to develop these regional centers of innovation and job creation, according to the release. To help potential applicants prepare, the EDA has prepared a Fact Sheet that provides information on applicant eligibility requirements, geographies and more.
The Biden-Harris administration created the Tech Hubs program as part of its ambitious innovation strategy, which aligns with the vision to invest in America’s future, according to the release. Through this program, the EDA aims to foster technological advancements, promote economic growth and enhance national security by supporting the development of competitive technology and innovation centers across the U.S.
A successful proposal will demonstrate a region’s capabilities and commitment in its primary technological strength, the release reported. It will explain the potential for a Tech Hubs investment to enable the region to become a global leader in a critical technology area within a decade.
