WASHINGTON — The Department of Commerce on Friday began the application process to receive grants totaling $500 million to help cities become technology hubs.
The $500 million is part of last year’s $10 billion CHIPS and Science Act authorization to spur investment in new technologies such as artificial intelligence, quantum computing and biotechnology. This is an attempt to scale up technology investments, mostly concentrated around a few US cities (Austin, Texas). Boston; New York; San Francisco; and Seattle — to the rest of the country.
Commerce Secretary Gina Raimond told The Associated Press: “This is about elevating these positions on the brink of glory to world leaders.” “My job is to make America more competitive.”
The Biden administration has made it a priority to develop an industrial strategy that redirects government investment to computer chips, clean energy and a variety of other technologies. Officials say being a leader in these areas will boost the economy and national security, suggesting that building domestic strength is the best way to counter China’s rise. reflects the belief that
Technology hubs aim to build areas that already have major research expertise but lack access to funding that could drive stronger growth and business formation in that area I’m doing it. Each region of the United States already has cutting-edge technology, such as medical devices from Minnesota, robotics from Pittsburgh, and agricultural technology from Fresno, California. But the challenge is finding ways to strengthen these areas so that government investment translates into more support from the private sector. capital.
To be eligible to receive Technology Hub funding, each applicant must have a partnership that includes one or more companies, state development agencies, worker training programs, universities, and state and local leaders. About 20 cities will be designated as tech hubs, with 10 eventually receiving funding.
President Joe Biden wants to increase funding in the long run, and in his budget bill he is asking Congress to appropriate an additional $4 billion over the next two years. Raimond said he expects a large number of applicants to come across political positions.
The Technology Hub Program, formally known as the Regional Technology and Innovation Hub Program, ties in with the political message Biden conveyed in his speech. The Democratic president said people shouldn’t feel compelled to leave their hometowns to find good jobs, and that opportunities exist in only a few areas of the country while others face difficulties. said that we should not focus on
“If you’re a scientist with a great idea, you don’t need to move to Silicon Valley,” Raimond said.
FILE – President Joe Biden signs HR 4346 (Chips and Science Act of 2022) on Aug. 9, 2022 at the White House in Washington. The Department of Commerce has begun an application process for cities to receive grants totaling $500 million. Grants to become a “technology hub”. The $500 million is part of last year’s $10 billion CHIPS and Science Act authorization to spur investment in new technologies such as artificial intelligence, quantum computing, biotechnology and other areas. (AP Photo/Carolyn Custer, File)