The Biden administration announced yesterday that it was providing $504 million in implementation grants for a dozen technology hubs around the country. The hubs, which are located in US states such as Ohio, Montana, Nevada and Florida, are focusing on building out local expertise in a particular technology. Miami, Fla., for example, is receiving $19.5 million to establish a climate technology hub with a focus on building a coastline that can survive the rising sea levels, among other initiatives. It will be led by Florida International University.
Other technologies supported by this initiative include quantum computing, biomanufacturing, lithium batteries, computer chips and personal medicine.
The program is being funded under the Chips and Science Act and Inflation Reduction Act and it is meant to boost private investment in cutting-edge industries outside the country's traditional innovation centers of San Francisco, Boston and New York.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
