WASHINGTON – U.S. Senators Ben Cardin and Chris Van Hollen and Congressmen Dutch Ruppersberger, John Sarbanes, Kweisi Mfume and David Trone (all D-Md.) today congratulated the Baltimore Tech Hub, a consortium led by Greater Baltimore Committee, for being named one of only 31 finalists in the U.S. Department of Commerce Economic Development Administration (EDA) Regional Technology and Innovation Hubs program. The Baltimore Tech Hub and the select group of tech hubs nationwide will be eligible to compete for a piece of the $10 billion over five years authorized by Congress, as part of the CHIPS and Science Act of 2022, for this unique program, of which $500 million so far has been appropriated for its inaugural round of awards. In addition to voting for and strongly supporting the CHIPS and Science Act, the lawmakers sent a letter to U.S. Department of Commerce Secretary Gina Raimondo last month in support of the Baltimore Tech Hub consortium application.
“The CHIPS and Science Act jumpstarted the return of manufacturing across the United States and its Regional Tech Hub program will do the same for high-tech industries and the incredible entrepreneurs across the Baltimore region,” the lawmakers said. “This is about creating new jobs and emerging industries for the long term. We strongly pushed for the Baltimore Tech Hub application in a letter to Commerce Secretary Gina Raimondo because we know well the local resources and cutting-edge opportunities that can be leveraged to advance the region’s technological capabilities.”
The Regional Tech Hubs program is focused on the development of key areas of technology deemed as vital to future U.S. job growth and economic competitiveness. The Baltimore Tech Hub consortium, led by the Greater Baltimore Committee, “will develop innovative and predictive healthcare technologies by applying artificial intelligence to biotechnologies,” as described by the EDA. “Leveraging regional research universities and institutions, research and development expertise, and existing capital investment, the Baltimore Tech Hub aims to catalyze commercialization of predictive healthcare technology, improving equitable care delivery and national health outcomes.”
With the Phase 1 designation as a Tech Hub, the Baltimore consortium will have the opportunity to compete for implementation funding in Phase 2. EDA will invest between $50-$75 million in each of 5-10 Designated Hubs.