What the Latest Tech Hubs Funding Means for Site Selection Executives
July 12, 2024
The Surprising Diversity of Tech Hub Locations
One of the most surprising aspects of the Biden-Harris administration’s announcement of $504 million in funding for its Tech Hubs is the geographical diversity of the 12 selected hubs. Unlike previous federal initiatives that often concentrate resources in established tech centers, this funding round strategically targeted a wide range of locations, including both urban and rural areas. For instance, the Elevate Quantum Tech Hub, which has been awarded $41 million, spans two states and highlights a collaborative approach across state lines in Colorado and New Mexico.
The Heartland BioWorks hub in Indiana received $51 million in funding to advance biomanufacturing in a region not traditionally known for biotech. This selection underscores the potential for significant growth in less expected areas.