- Tech Hubs
WASHINGTON, DC — The Biden-Harris administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), today announced that Critical Minerals and Materials for Advanced Energy (CM2AE) Tech Hub in Rolla, Missouri, was designated as one of the 31 inaugural Tech Hubs in regions across the country that show potential for rapid growth in key technology sectors.
CM2AE, a consortium led by the University of Missouri Systems, will position south-central Missouri as a global leader in critical mineral processing to support manufacturing of advanced energy and critical goods, including lithium-ion and primary-lead-acid batteries. CM2AE will build on the region’s mineral rich geography, expertise, and existing assets to increase mineral processing capacity, meeting the demand of U.S. manufacturers, reducing demand on foreign critical minerals, and creating thousands of good paying jobs.
This designation is part of the first phase of the novel Tech Hubs program, authorized by the CHIPS and Science Act, that will invest directly in high-potential U.S. regions and aim to transform them into globally competitive innovation centers. Designation is an endorsement of the region’s strategy to supercharge their respective technological industry to create jobs and strengthen U.S. economic and national security. Designated Tech Hubs are now eligible to apply for the next phase of the Tech Hubs Program that will invest between $50-$75 million in each of 5-10 Designated Hubs.
In addition to a Tech Hubs Designation, EDA announced today that CM2AE was also awarded a Tech Hubs Strategy Development Grant that will help the consortium increase local coordination and planning activities to strengthen its region’s capacity to manufacture, commercialize, and deploy critical technologies.
“President Biden’s Investing in America agenda is rooted in policies that will empower the United States to out-innovate and out-compete the rest of the world. Our Tech Hubs Program is fundamental to that mission and will supercharge innovation across the nation by spurring cutting-edge technological investments and creating 21st century job opportunities in people’s backyards,” said U.S. Secretary of Commerce Gina Raimondo. “Each of these consortia will help us ensure the industries of the future—and their good-paying jobs—start, grow, and remain in the United States.”
“These outstanding consortia exemplify place-based economic development strategies at their best: combining federal resources with regional assets, expertise, and coalitions to implement transformational opportunities,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “As each region develops its own strategy to catalyze innovation and job creation, the entire nation grows more secure and more competitive.”
The 31 Tech Hubs were selected from 198 applications from regional consortia that include industry, academia, state and local governments, economic development organizations, and labor and workforce partners. The Tech Hubs span regions across 32 states and Puerto Rico and represent a cross section of urban and rural regions.
For a full list of Tech Hubs, visit TechHubs.gov.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.