Biden designates tech hubs across 32 states, Puerto Rico

The Biden administration released plans on Monday to establish dozens of tech hubs under the 2022 CHIPS and Science Act. U.S. President Joe Biden said the Regional Technology and Innovation Hub Program is the latest “Bidenomics” initiative and aims to bring the semiconductor industry back to the United States. Biden said he hopes the hubs will spread and normalize tech manufacturing and research across the country, adding, “How can you lead the world when you no longer lead in research and development?”

What exactly will it mean for a city to become a “tech hub”? Five to 10 of the 31 hubs will receive up to $75 million in CHIPS Act federal funds to invest in critical technologies, including biotechnology, critical materials, quantum computing, and advanced manufacturing. Traditional manufacturing states like New York and Massachusetts will house hubs, along with traditionally rural states like Idaho, Wyoming, Montana, and Nevada. Hubs will also have access to additional funding from the Department of the Treasury and the Economic Development Administration, as well as technical assistance from the Departments of Transportation and Agriculture.