Tech Hubs: EDA announces implementation awards

The Economic Development Administration today announced $504 million in funding across 12 Tech Hubs, the culmination of a 14-month selection process to choose the first regions funded for implementation projects under the program. The 12 Hubs receiving implementation awards are listed in the graphic below.

EDA originally projected making 5-10 implementation awards $50-75 million each. The agency is instead making 12 awards at $19-51 million.

The Tech Hubs program was authorized by Congress to bolster America’s national security and economic competitiveness in 2022’s CHIPS and Science Act. While authorized at $10 billion, the program received its initial funding of $500 million with the FY 2023 omnibus, and Congress provided an additional $41 million in FY 2024. 
Today’s announcement, which builds upon EDA’s award in October 2023 of strategy development grants, therefore accounts for nearly all the agency’s appropriated funds, pending further congressional action. 

SSTI is convening all designated Tech Hubs through the Tech-based Economic Development (TBED) Community of Practice, which is supported by EDA. In addition to being able to participate in webinars, subcommunities, and other initiatives, SSTI is facilitating regular calls to share practices and concerns specific to the Tech Hubs. Learn more about the community—or sign up for an upcoming event—at ssti.org/tbedcop. 

More information on the Tech Hubs program and all 31 designated regions is available on EDA’s program page.

This article was prepared by SSTI using Federal funds under award ED22HDQ3070129 from the Economic Development Administration, U.S. Department of Commerce. The statements, findings, conclusions, and recommendations are those of the author(s) and do not necessarily reflect the views of the Economic Development Administration or the U.S. Department of Commerce.