ForgotUsernameorPassword. . Date. MENAFN The Biden administration unveiled plans to allocate USD504 million towards bolstering 12 Regional Technology and Innovation Hubs, a cornerstone of President Biden's Investing in America initiative aimed at fostering innovation nationwide. These Tech Hubs are intended to invigorate economic growth, create jobs, and uplift historically underfunded regions, as outlined in a statement released by the White House on Tuesday.The funding earmarked for these Tech Hubs is geared towards empowering American workers, businesses, and communities to spearhead future industries like semiconductors, clean energy, biotechnology, artificial intelligence, and quantum computing. The administration emphasized that this initiative will not only fortify national and economic security but also position the United States at the forefront of technological advancement.Vice President Kamala Harris underscored the transformative potential of these Tech Hubs, asserting that they will equip regions across the country with the resources and opportunities needed to thrive in tomorrow's economy, while simultaneously generating wellpaying jobs for American workers.Last year, President Biden designated 31 Tech Hubs across the nation, and now, 12 of these hubs have been selected as recipients of grants up to USD51 million each. These hubs span across states such as Colorado, Florida, Georgia, Illinois, Indiana, Montana, Nevada, New Hampshire, New Mexico, New York, Ohio, Oklahoma, South Carolina, and Wisconsin.US Commerce Secretary Gina Raimondo highlighted the strategic importance of the Tech Hubs program in maintaining America's competitive edge by advancing leadership in key emerging technology sectors. She emphasized the program's approach of harnessing the diverse talent and resources available throughout the country to achieve these goals.The exact funding amounts for each of the 12 Tech Hubs will be determined in the upcoming months, according to the Commerce Department, marking the next phase in this ambitious effort to foster innovation and economic resilience across America.MENAFN03072024000045015839ID1108402385. MENAFN03072024000045015839ID1108402385. MENAFN03072024000045015839ID1108402385. Legal Disclaimer:MENAFNprovides the information as is without warranty of any kind. . Tags. Comments. Category. Date. DailyEnglishDailyArabicAll. . World and Middle East business and financial news, Stocks, Currencies, Market Data, Research, Weather and other data. Tel:962 6 5690450. Copyright 2000MENAFN.All rights reserved. Design  Devleopment byMENAFN
The Biden administration is allocating $504 million to strengthen 12 Regional Technology and Innovation Hubs as part of the Investing in America initiative. These Tech Hubs aim to boost economic growth, create jobs, and support underfunded regions. The funds will empower workers and businesses to lead in sectors like semiconductors, clean energy, AI, and quantum computing. Vice President Harris highlighted the potential for these hubs to drive innovation, create opportunities, and high-paying jobs nationwide.