Congress Must Appropriate Adequate Funds to Tech Hubs, Says ITIF
WASHINGTON—Following the announcement of the Regional Technology and Innovation Hubs implementation grant winners, the Information Technology and Innovation Foundation (ITIF), the leading think tank for science and technology policy, released the following statement from Robert D. Atkinson, president of ITIF:
Today, the Department of Commerce’s U.S. Economic Development Administration announced the recipients of the Regional Technology and Innovation Hubs (Tech Hubs) implementation grants. This federal effort aims to “move the needle” by providing $504 million to 12 Tech Hubs nationwide that are not world-leading tech regions, such as Boston and Silicon Valley, but have the potential to be globally competitive in critical technological sectors within a decade. Importantly, the 12 selected places focus less on research, development, and discovery and more on commercialization and production, areas where the U.S. faces the most significant risks from China.
ITIF’s 2019 report urging for the establishment of such a program and calling for $100 billion over 10 years inspired the Tech Hubs legislation. While the CHIPS and Science Act authorized $10 billion for Tech Hubs, much less was actually appropriated. The president’s last budget included $4.041 billion for two-year program funding. Congress needs to step up, put U.S. competitiveness first, and appropriate at least the amount the president requested to not only ensure regional opportunity across the nation but to support U.S. national security and techno-economic competitiveness vis-à-vis China.
Contact: Sydney Mack, [email protected]
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The Information Technology and Innovation Foundation (ITIF) is an independent, nonprofit, nonpartisan research and educational institute focusing on the intersection of technological innovation and public policy. Recognized by its peers in the think tank community as the global center of excellence for science and technology policy, ITIF’s mission is to formulate and promote policy solutions that accelerate innovation and boost productivity to spur growth, opportunity, and progress.
