President Joe Biden’s administration will reportedly provide $504 million in funding to 12 tech hubs to expand research in AI, semiconductor manufacturing and clean energy.
The funding will go to tech hubs in New York, Florida, South Carolina and the battleground state of Nevada. report From Bloomberg.
Researchers in Florida focusing on sustainable and climate-resilient infrastructure will receive $19 million, while a New York site working on semiconductor manufacturing will get $40 million, according to the report.
Sites in Illinois and Indiana focused on biomanufacturing, and engineers in Oklahoma working on autonomous systems including AI-enabled drones, will each receive $51 million, covering five centers in total, according to the report.
Meanwhile, recipients in Nevada, focusing on lithium battery and electric vehicle materials, will reportedly receive $21 million.
“Across our nation, we have smart people, amazing entrepreneurs and cutting-edge research institutions. If we don’t give them the resources to compete and win, we’re missing out on a lot of potential,” said Commerce Secretary Gina Raimondo.
The grants, announced Tuesday, are reportedly part of Biden’s funding for the Chips Inflation Control Act and the Chips and Science Act.
“Lawmakers initially approved $10 billion over five years for the tech hub initiative, but only $541 million of that has been allocated in the past two years,” Bloomberg reported, adding that “the grants announced on Tuesday eat up most of the available funding.”
Notably, the plan was released at a time when many across the country believe Biden has failed on the economy and inflation.
Biden, meanwhile, is fighting to stay in the White House as the November presidential election looms after his disastrous defeat in last week’s debate with his rival, former President Donald Trump.
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