Joe Biden Administration Allocates $504 Million to Scale Up 12 Technology Hubs in US

By Trisha Andrada

Jul 03, 2024 11:29 AM EDT

The administration of President Joe Biden announced on Tuesday, July 2, the awarding of $504 million in funding for 12 regional technology hubs to encourage private investment in innovative sectors outside of the United States' conventional innovation centers.

These hubs will increase their research efforts in fields like clean energy, artificial intelligence (AI), and semiconductor manufacturing.

US States That Stand to Gain on Joe Biden Administration Grant

According to Bloomberg, some of the states that will benefit from the investment include Florida, New York, Nevada, and South Carolina, which will also serve sections of adjacent Georgia.

Among the grants, $19 million will go to South Florida researchers working on sustainable and climate-resilient infrastructure, such as creating barriers to protect the region from the effects of rising seas.

Five beneficiaries of the $51 million will include biomanufacturing hubs in Illinois and Indiana and engineers in Tulsa, Oklahoma, who will test autonomous systems, such as AI-powered drones, to examine crops.

One facility in Nevada will get $21 million to develop materials for electric vehicles and lithium batteries, while the other in New York will receive $40 million to manufacture semiconductors.

Noting the number of lawmakers from both parties who made presentations for the places they want to be named, Commerce Secretary Gina Raimondo said that she and the president had requested Congress to allocate additional money for the program.

Joe Biden Uses Donald Trump's Signature Phrase 'Make America Great Again' to Promote His Tax Proposals — Joe Biden's administration announced 12 regional technology hubs that would receive $504 million in grants. (Photo : Ian Maule/Getty Images)

Larger Legislative Legacy of Joe Biden

The program is a part of Joe Biden's larger legislative legacy, which includes the Inflation Reduction Act and the CHIPS and Science Act.

He utilized this accomplishment to encourage investments in American manufacturing and put the US in a stronger position to compete with China in developing vital technologies.

The president has been emphasizing his attempts to spur investment in communities nationwide, which is a critical component of Biden's economic vision.