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Biden administration officials hope the money will drive technological innovation into spaces that have traditionally garnered less government funding.
By Madeleine Ngo and Ana Swanson
Report from Washington
Biden’s leadership on Tuesday awarded $504 million to a dozen projects across the country in an effort to turn traditionally overlooked communities into tech powerhouses.
The grants will fund “tech hubs” that target the production of critical technologies in spaces such as western Montana, central Indiana, South Florida and upstate New York. These centers aim to boost the expansion of complex industries in the United States. such as biomanufacturing, blank energy, synthetic intelligence and personalized medicine.
The program reflects a federal effort to expand U. S. investment in science and generation beyond Silicon Valley and some coastal regions, a move Biden administration officials say will revitalize spaces that have historically garnered less government investment. Proponents say the projects will create “well-paying” projects. jobs and leverage underutilized pools of staff and resources across the country.
The $10 billion program was legal through the CHIPS and Science Act, which Congress passed in 2022 to boost domestic semiconductor production and generate investments for clinical research. The concept of expanding investment in technology beyond Silicon Valley has allowed the law to garner more support from lawmakers. representing regions of the country eager to benefit.
First, the Ministry of Commerce reviewed some 400 applications, narrowing them down to a pool of 31 projects that earned “tech hub” designation in October. On Tuesday, 12 regions received grants ranging from $19 million to $51 million.
However, it is unclear how many additional investments will be available. Although Congress legalized $10 billion for the five-year program when the CHIPS Act was passed, only about $541 million, or about 5%, has been allocated so far, which some say may simply obstruct the program’s success.
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