Biden aims to boost investment in clean energy, biotech, semiconductors with tech hubs

The Biden administration on Monday named 31 regions spanning 32 states and Puerto Rico as technology hubs, a move by the White House to spur private investment and create jobs.The creation of the tech hubs was authorized through the CHIPS and Science Act.

President Joe Biden announced the program alongside Commerce Secretary Gina Raimondo. The creation of the tech hubs was authorized through the, which Biden signed into law last year. Raimondo in May announced the launch of the tech hub program with the aim of dispersing $500 million in grants. The goal is to spread technological innovation across the country rather than have it centered primarily in cities like San Francisco, New York, Boston and Austin.

"These tech hubs will be transformational and they're a part of a long line of transformational investment we've made since I took office," Biden said. "And as a result, I truly believe this country is about to take off, because for the first time in a long time we're investing in America and we're investing in the American people. We're investing in our future.

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