The US Department of Commerce selected 12 technology hubs to receive $504 million in government funding to drive regional innovation, as part of the 2022 CHIPS and Science Act.

In 2023, the administration of President Joe Biden announced the first phase of the technology hub programme, which included the Department of Commerce selecting 31 regional technology hub locations out of 370 applicants.

The programme is administered by the department’s Economic Development Administration.

The second phase pared the 31 locations down to 12 tech hubs across 14 US states; Colorado, Florida, Georgia, Illinois, Indiana, Montana, Nevada, New Hampshire, New Mexico, New York, Ohio, Oklahoma, South Carolina, and Wisconsin. Two hubs out of the 12 will cover two states each.

Each of the locations will receive grants of up to $51 million each to help accelerate and grow technology-based industries across the US.

The programme is designed to create high-paying jobs and spur innovation across various sectors, including AI, semiconductors and quantum computing as well as support economic growth in previously underinvested areas.

The awards include $40 million for semiconductor manufacturing in New York, $19 million for infrastructure related to the climate crisis in Florida and $41 million for quantum information technology in Colorado and New Mexico.

Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo stated the 12 hubs “exemplify place-based economic development strategies at their best: combining federal resources with regional assets, expertise, and coalitions to implement transformational opportunities”.