Tech Hub Designation a Big Win for Hoosiers
If you have heard of the CHIPS and Science Act, you are probably familiar with how it is bringing our domestic semiconductor industry — long dormant — back to life. Reshoring chip production on American soil is important for both our economy and national security.
Since this bill, which I co-wrote, became law two years ago, $450 billion in new private sector investment in semiconductors has been announced across the country, creating an estimated 56,000 jobs. That includes the jobs coming to Indiana at the new SK hynix facility in West Lafayette and several defense-related chip projects in Southern Indiana near Crane.
I wrote a column in the Indianapolis Star about how Indiana’s new tech hub, with support from the CHIPS and Science Act, will help America compete with the Chinese Communist Party on emerging technology.
Scientific advancement is happening all over the country. And Indiana, in particular, is punching way above its weight when it comes to this innovative work. Earlier this month, the Department of Commerce funded 12 regional “tech hubs” as part of a program our legislation created. This was an intense competition. There were 370 applicants from across the country. Indiana’s Heartland BioWorks received the largest award in the country — $51 million.
That $51 million will open the floodgates of private investment in the Hoosier State. The best estimates say it will spur $2.6 billion in additional economic output and create 9,000 new jobs over a decade.
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