Biden administration announces tech hubs in Pennsylvania, Ohio to boost economic growth
The Biden administration today announced the formation of 32 hubs that will "catalyze investment in technologies critical to economic growth."
Part of the CHIPS and Science act, which was signed into law last year, the hubs are expected to increase national security and job creation and help communities across the country become centers critical to the country's competitiveness in emerging technologies.
According to the administration, the hubs will bring together private industry, state and local governments, institutions of higher education, labor unions, Tribal communities and nonprofit organizations to compete for up to $75 million implementation grants to further develop these fields and make transformative investments in innovation, supply chain resilience and job creation.
The hubs, which will be located across the country will focus on several different industries including semiconductors, clean energy, critical minerals and bio technology.
This includes two hubs that will be located in Philadelphia and one in Akron.
The hub in Akron has been designated a Sustainable Polymers Tech hub that aims to tackle the severe climate an environmental impacts resulting from the use of fossil fuel-derived rubbers and plastics. The plan is to accelerate sustainable polymer manufacturing and commercialization, according to the U.S. Economic Development Administration (EDA).
The EDA says this hub will leverage its regional assets, including what it calls the largest concentration of plastics and rubber manufacturing plants, machines, and materials in North America to establish global leadership in sustainable plastic and rubber technology that has reduced emissions and is recyclable, biodegradable and nontoxic.
It adds that it will seek out regional partnerships in research and development and an inclusive regional workforce to get this done.
The hub in Philadelphia will be dedicated to medicine related technology, leveraging the area's density of life sciences and research development expertise to create technology for medical, biotech, genomics artificial intelligence and more.
The CHIPS act seeks to improve America's competitiveness with China by investing in domestic semiconductor manufacturing and science research.
According too Rick Stockburger, President & CEO of Brite Energy, the bill will add more innovation, business and jobs to the Valley because of increased demand for domestic semiconductors. Around $75 million will be spread across the country over a 5-year period, that will focus on Clean Energy Incubators, impacting companies like Brite Energy Innovators.