The White House announced on Monday that it is designating 31 technology hubs

The White House announced on Monday that it is designating 31 technology hubs

According to the White House, these hubs will be eligible to compete for grants ranging from $40 to $75 million each.

The purpose of the technology centers is to "wholeheartedly endorse a region's plan to build a critical technology ecosystem and make it a global leader over the next decade," said the U.S. Economic Development Administration on its website.

President Joe Biden stated in his planned remarks on Monday, "These technology centers will be transformational, and they are part of a long line of transformational investments we've made since I took office. And as a result, I genuinely believe this country is poised to take off because, for the first time in a long time, we're investing in America."

This move was sanctioned under the CHIPS and Science Act, the White House reported, which Biden often touts as a key component of his economic agenda. According to the administration, the law, which he signed in August 2022, aims to improve semiconductor production and supply chains in the United States. It also allows for $10 billion to be invested in technology centers across the country.

"These technology centers will spur investment in technologies critical to economic growth, national security, and job creation and help communities across the country become hubs of innovation, critical to American competitiveness," the White House press release said.

The centers focus on a wide range of technological areas, including quantum computing, artificial intelligence, clean energy, medicine, and biotechnology. According to the Economic Development Administration, the centers are located in 32 states and Puerto Rico and include areas with tribal governments, coal communities, and low-population states.

These designations "will be widely recognized as an indicator of each region's potential for rapid economic growth based on its technological potential, and we believe they will make it even more attractive to private investment and job creation," said Commerce Secretary Gina Raimondo in a Sunday conference call with reporters. "The names reflect the diversity of our country. Many of our centers include small towns, rural areas, historically underserved communities."

The White House statement added, "For too long, economic growth and opportunities have been concentrated in a few coastal cities," noting that the centers announced on Monday were selected to "represent the full diversity of America."

Approximately six minutes after his remarks on the Bidenomics, Biden said he needed to go to the Situation Room "on another matter." These remarks came after Hamas reportedly released two more hostages following the attack on Israel on October 7.

After his speech, Biden responded to a reporter's shouted question about a ceasefire, saying, "We need to get a ceasefire."

 

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