FILE - President Joe Biden looks on as Commerce Secretary Gina Raimondo speaks on the South Lawn of the White House, Aug. 9, 2022, in Washington. The Biden administration is designating 31 “tech hubs” in 32 states and Puerto Rico to help spur innovation and create jobs in the specific industries that are concentrated in these areas.
“No matter where I go or who I meet with — CEOs, governors, senators, congresspeople, university presidents — everyone wants to tell me about their application and how excited they are,” said Raimondo. The $500 million came from a $10 billion authorization in last year’s CHIPS and Science Act to stimulate investments in new technologies such as, quantum computing and biotech. It’s an attempt to expand tech investment that is largely concentrated around a few U.S. cities — Austin, Texas; Boston; New York; San Francisco; and Seattle — to the rest of the country.
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