In late February 2024, the 31 Tech Hub Designees submitted their Phase 2 applications, outlining ambitious plans to transform their regions into globally competitive critical technology hubs. EDA recently updated its website to provide an overview of each Designee’s proposal, emphasizing the common goals of the Tech Hubs program: innovation, workforce development, and economic competitiveness and national security. Collectively, the Designees requested $2 billion in funding for 182 projects, with significant matching funds from industry, state and local governments, and other partners.
The Tech Hubs’ proposed projects are aligned with their chosen industrial focus, aiming to develop industries related to semiconductors, quantum computing, clean energy, and more. The high level of interest in the Tech Hubs program was evident from the large number of applications received, with the 31 Designees selected based on their potential for global competitiveness in future technologies. EDA plans to announce Phase 2 award winners in the summer, with investments ranging from $40 million to $70 million per selected Hub to support the implementation of projects that will propel these regions to become competitive Tech Hubs.
The Tech Hubs Program, authorized by the bipartisan CHIPS and Science Act, is a key component of President Biden’s Investing in America agenda. While Congress has appropriated $541 million for the program, further funding is needed to fully realize the vision of investing up to $1 billion in each of ten or more regions to enhance their growth as global technology leaders. EDA anticipates additional Tech Hubs competitions to designate more Hubs and award strategy development grants in the future, contingent on future appropriations.
