In August 2022, Congress passed the Creating Helpful Incentives to Produce Semiconductors – or Chips and Science Act. Congratulations to whoever came up with that acronym. The law authorized more than a quarter of a trillion dollars in funding for domestic technology manufacturing and development. It has been recognized as a key piece of the reignition of US industrial policy – which has lain dormant for much of the 21st century.
As you can imagine, direct funding of research across the US is a key component of this legislation – so the bill set aside funding for the designation of Regional Technology and Innovation Hubs. The Economic Development Administration is spearheading this program, and now that things are up and running, we can start to dive deeper into the Tech Hubs Program, what it seeks to accomplish, and why it matters.
To do this, we're joined by Alejandra Castillo, Assistant Secretary of Commerce for Economic Development.
Resources:
Tech Hubs Overview
List of Awardees
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Intro/Outro Music: Focal Point/Young Community
Courtesy of Epidemic Sound