In 2023, the Biden administration announced the first phase of the technology hub program, which involved selecting 31 regional locations out of 370 applicants. The program is being overseen by the Department of Commerce’s Economic Development Administration.
The second phase of the program narrowed down the 31 locations to 12 technology hubs located across 14 different states. These states include Colorado, Florida, Georgia, Illinois, Indiana, Montana, Nevada, New Hampshire, New Mexico, New York, Ohio, Oklahoma, South Carolina, and Wisconsin.
The US Department of Commerce has chosen 12 technology hubs to receive a total of $504 million in government funding as part of the 2022 CHIPS and Science Act. This initiative is aimed at promoting regional innovation and driving economic growth.
Each of the selected locations will receive grants of up to $51 million to support and accelerate technology-based industries. The goal of the program is to create high-paying jobs, drive innovation in key sectors such as AI, semiconductors, and quantum computing, and boost economic growth in areas that have been historically underinvested.
Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo praised the program stating that these hubs demonstrate effective place-based economic development strategies by leveraging federal resources with regional assets and expertise to create transformative opportunities.