Economic Development Administration Announces Phase 1 of New Tech Hubs Program

On May 12, the Economic Development Administration (EDA) released the first of two planned Notices of Funding Opportunity (NOFOs) for the Tech Hubs. This Insight provides an overview of the program and considerations for Congress.

The Tech Hubs program is to strengthen U.S. economic and national security through place-based investments in regions with the assets, resources, capacity, and potential to become globally competitive Tech Hubs, within approximately ten years, in the technologies and industries of the future, and for those industries, companies, and the good jobs they create to start, grow, and remain in the United States.