In a significant move aimed at driving economic development and bolstering national security, the U.S. Economic Development Administration is excited to announce the results of Phase 1 of the Tech Hubs Program. This initiative showcases the power of place-based strategies by leveraging federal resources alongside regional assets and expertise to create transformative opportunities.

The Tech Hubs Program stands as a beacon of innovation, strategically expanding the landscape of technology centers across the United States, moving beyond the confines of major metropolitan areas. By doing so, it is set to enhance both the economic and national security of the nation.

An impressive response of nearly 400 applications demonstrated the breadth and depth of technology innovation, collaborative partnerships, and well-thought-out approaches to ensure that technology-based economic development is inclusive on a regional level. These applications vividly illustrated why the United States continues to be a global epicenter of innovation and will maintain this position in the future.

After weeks of thorough review, the President is set to make a significant announcement at 2:15 pm ET today, revealing the designation of 31 Tech Hubs. These hubs will be eligible to seek implementation funding through Phase 2 of the program. Additionally, 29 Strategy Development Grants will be provided to assist consortiums in developing their Phase 2 strategy or preparing for a potential Tech Hubs Designation in the future.

For more details, you can read today’s official press release and tune in to watch the President’s announcement at the designated time.