Biden administration to provide $504 million in funding for 12 Tech Hubs

The Biden administration will provide $504 million in funding for 12 Regional Technology and Innovation Hubs to accelerate the growth of innovative industries, the White House announced Tuesday.

The Tech Hubs, part of Biden's Investing in America agenda, aims to bring innovation to every region of the country, create jobs and support economic development in previously underinvested areas, it said in a statement.

The funding awarded to the Tech Hubs will position American workers, businesses and communities to lead industries of the future, such as semiconductors, clean energy, biotechnology, artificial intelligence, quantum computing and will strengthen national and economic security, it added.

"These Tech Hubs will give regions across our nation the resources and opportunities necessary to lead in the economy of tomorrow while creating good-paying jobs for American workers," said Vice President Kamala Harris.

Biden designated 31 Tech Hubs across the country last year. The 12 winners of grants were given up to $51 million each in the U.S. states of Colorado, Florida, Georgia, Illinois, Indiana, Montana, Nevada, New Hampshire, New Mexico, New York, Ohio, Oklahoma, South Carolina and Wisconsin.

The U.S. Commerce Secretary Gina Raimondo said separately that the Tech Hubs program helps the U.S. maintain its competitive edge by advancing America's leadership in commercializing critical emerging tech sectors. "And we're leveraging the diverse talent and resources that currently exist across the country to achieve this goal."

For each of the 12 Tech Hubs, award amounts will be finalized in the coming months, according to the Commerce Department.