U.S. Economic Development Administration

Events | Building capital assets in communities, social impact storytelling, data in tribal grants & more. EDA's grantees, and partner organizations are hosting several upcoming events of interest to economic development practitioners. Register here 📅 https://bit.ly/3KVOcM3 #EconomicDevelopment #Events U.S. Department of Commerce Urban Institute SSTI National Association of Counties RTI International

#Wisconsin is already a hub for the growing field of #personalizedmedicine, where scientists tailor treatments to a person’s genes. But a range of challenges is holding the #industry back. Advocates say it’s hard for researchers to find the workers and #data they need, and that the existing #health data exacerbates inequalities because it doesn’t include enough people from racial and ethnic minorities. Now, a coalition of #biohealth businesses, colleges and economic development agencies is getting $49 million in federal funds to solve those problems and more. The funds, announced [last week] by the U.S. Economic Development Administration, will create a new shared health database, send a fleet of #cancer screening vans to underserved neighborhoods, provide lab space for science startups and help biohealth businesses develop apprenticeship programs. Article: 'Wisconsin got $49M to invest in personalized medicine. What does that mean?' https://lnkd.in/genpiGC5 via The Capital Times #biotech #leadership

In case you missed it, the U.S. Economic Development Administration announced last week that the Nevada Lithium Batteries and Other EV Material Loop (Nevada Tech Hub), a statewide effort led by the University of Nevada, Reno, will be awarded approximately $21 million to lead initiatives to strengthen America’s lithium batteries, critical elements and other electric vehicle materials industry sectors within the state. U.S. Senator Jacky Rosen provided remarks during the press conference announcing the EDA funding at Dragonfly Energy Corporation. Read more on Nevada Today at https://bit.ly/3VU77vY

In case you missed it, the U.S. Economic Development Administration announced last week that the Nevada Lithium Batteries and Other EV Material Loop (Nevada Tech Hub), a statewide effort led by the University of Nevada, Reno, will be awarded approximately $21 million to lead initiatives to strengthen America’s lithium batteries, critical elements and other electric vehicle materials industry sectors within the state. U.S. Senator Jacky Rosen provided remarks during the press conference announcing the EDA funding at Dragonfly Energy Corporation. Read more on Nevada Today at https://bit.ly/3VU77vY

This week, the U.S. Economic Development Administration has awarded approximately $51 million dollars to the Tulsa Hub for Equitable and Trustworthy Autonomy (THETA) for the purpose of critical technology development projects estimated to bring in over 56,000 high-paying jobs to the Tulsa area. The THETA consortium is led by Tulsa Innovation Labs alongside a diverse steering committee that includes Cherokee Nation Businesses and other Tulsa partners across public and private sectors working to strengthen our region’s position as a global leader in technology innovation. “We're always excited to see a project such as #THETA that improves the regional economy and has the potential to help Cherokee Nation Businesses expand into the autonomous systems and component manufacturing industry, support growing defense and commercial needs and shore up critical supply chains,” said CNB CEO Chuck Garrett. “This project coincides with Cherokee Nation's approach to improve the lives of its citizens and strengthen the regional economy of northeastern Oklahoma.” Learn more about THETA and this historic investment in job creation and economic growth at: https://lnkd.in/gtrwfyTB

The U.S. Economic Development Administration's 12 Tech Hubs are the newest focal points of the nation's recent push to boost high-potential tech clusters in new places. At last the nation is crafting (and executing!) a smart, rigorous, and competition-driven industrial strategy that knows places are critical--in themselves, and for the nation's well-being and push against China. Now it's time to implement the nation's first hubs and fully-fund the authorized--but under-appropriated--$10 billion program. Let's get to work! See my piece with Joe Parilla and Francesca Ioffreda here: https://lnkd.in/eZcaSNDp Ross DeVol Will Wilkinson Ro Khanna Byron Auguste Brian Deese Andrew Carter Bruce Katz

Happy Independence Day from all of us at EDA!

Nearly two years ago, President Biden signed the CHIPS and Science Act into law, and we began developing policy for and designing the program that became Tech Hubs. Less than six months later, the U.S. Economic Development Administration was appropriated the first $500 million (just the first 5% of its envisioned $10 billion) for the program, and since then we’ve made this policy into reality. We announced the 31 inaugural Hubs—places with capacity and potential to become globally renowned not only in innovation but also in making and delivering those innovations—in October 2023. We worked with those Hubs for several months as they developed their best proposals to realize their visions, and, since the end of February, we’ve undertaken the truly difficult challenge of deciding which of those proposals to fund. We received a phenomenal set of applications across the 31 Hubs, and we have been and remain committed to accelerating growth in them all. The President has requested the next $4 billion for the program in his budget request, which, if appropriated, will enable us to continue to pursue the program’s vision of up to $150 million in initial investments per Hub and up to $1 billion in any given Hub over the life of the program. We’ve seen incredible support for the 31 Hubs: collectively, they secured $4.4 billion in contingent commitments to complement their applications. And we’ve seen incredible industry engagement: the private sector makes up more than a third of the 31 consortia’s 1,400+ members. Today, we announced $504 million of investment that we’re deploying into multiple projects in 12 Hubs. Making up just 5% of the program’s authorized level, we envision this as one of many rounds of investment across all 31 Hubs. This milestone offers an opportunity not only to celebrate this accomplishment but also to recognize the scores of amazing humans who have made it possible, inside and outside the U.S. Department of Commerce. I’m grateful for and deeply appreciate everyone who has contributed to, supported, and cared about this program, which enables us not just to lead the world in innovation but also to realize the promise of that innovation: inclusive prosperity, national security, and global competitiveness. The #EDATechHubs team is large and growing. https://lnkd.in/eY2cTaUP

WATCH THIS! 📺 This week, Assistant Secretary Alejandra Y. Castillo traveled to Miami-Dade County and Florida International University's campus to announce $19M dollars in federal funding for the South Florida ClimateReady Tech Hub. One of 12 Tech Hubs funded by U.S. Department of Commerce, this work will strengthen America’s clean energy transition, sustainable building manufacturing, and national security. #EDATechHubs

What an exciting day yesterday for #Illinois and Team iFAB Tech Hub, as they secured a $51M (!) implementation grant from the U.S. Economic Development Administration! Led by the truly amazing Beth Conerty, Nicole Bateman, and Carly McCrory-McKay, and with the support of University of Illinois Urbana-Champaign and many state and industry partners, the iFAB team aims to transform the state's raw agricultural materials into sustainable alternatives for fossil fuel-based products. This initiative will position Illinois at the forefront of precision fermentation and biomanufacturing, accelerate inclusive economic growth through business development opportunities and the creation of good-paying jobs, and lead the nation towards a more sustainable and equitable future. Huge kudos are also in order to all of the #TechHubs, many of whom also received implementation funding grants and all of whom have been working incredibly hard to drive their regional vision to make the US globally competitive in the industries of the future. We are grateful to the U.S. Economic Development Administration for this investment, their commitment to the program's expansion through this first implementation phase, and their continued support for all 31 designated Tech Hubs. Learn more about this tremendous investment for #CentralIL here: https://lnkd.in/gHN33Kr5 and read the EDA's official announcement here: https://lnkd.in/gvXmYV64 #EDATechHubs #EconomicDevelopment #Sustainability #InnovateIllinois