The first phase of the regional technology and innovation hub (tech hubs) program is underway, providing a chance for upstate New York communities to pursue grant funding from the $500 million that’s available.
The tech-hubs program is part of the CHIPS and Science law, the office of U.S. Senate Majority Leader Charles Schumer (D–N.Y.) said in Monday’s announcement.
Schumer said Upstate communities like Syracuse, Buffalo, Rochester, and more will now have the opportunity to compete for planning grants. They can also compete to be designated as a tech hub to “fully develop” how communities would use larger tech-hub grants to spur economic development, create good-paying jobs, and expand U.S. innovation and manufacturing.
The $500 million is part of a $10 billion authorization from Schumer’s bill to stimulate mid-size cities and broader regions with investments in new technologies, the senator’s office said. It also involves a focus on translating research and development (R&D) into new businesses, bringing manufacturing back to America, and “helping build the workforce of the future.”
“I created the Tech Hubs competition in the CHIPS & Science Bill with Upstate NY in mind. From our world-class workforce, to surging expansion of new investment in industries like semiconductor production and high concentration of renowned higher education and research institutions, Upstate NY has all the right ingredients to help bring manufacturing back to America and ensure we remain a leader in the technologies of the future,” Schumer said. “The first phase to tap $500 million in federal investment that was announced is the official launch for major federal funding that can fundamentally transform Upstate NY.”
The federal government is rolling out the tech-hubs program in two phases. The first phase of awards — which Upstate communities can now apply for — will designate promising tech hubs across America and provide strategy-development grant awards to accelerate their development.
A second phase will provide significant strategy implementation awards to “help tech hubs reach their full potential,” but only regions that were designated in the first phase will be able to apply for these implementation awards.