Washington, D.C. – TechNet, the bipartisan network of innovation economy CEOs and senior executives, sent a letter to President Biden urging robust funding for the regional technology and innovation hubs authorized by the CHIPS and Science Act of 2022 to be included in his budget request to Congress this year. The following statement can be attributed to TechNet President and CEO Linda Moore:

“The U.S. is home to some of the most powerful and innovative economic centers in the world, but it is critical for our economic future that we spread innovation and opportunity all across our country – not just a few cities on the coasts. Regional technology and innovation hubs will inspire a new generation of innovators with potentially life-changing ideas, catalyze startup ecosystems, and create opportunities in communities across the country.

“For too long, cities and regions across the country that were once fueled by thriving industries of the past are ripe with potential for development. Fully funding regional clusters of innovation will empower students, inventors, innovators, entrepreneurs, and workers across the country and accelerate our global competitiveness in critical technologies and tech-enabled sectors for decades to come.

“We urge the President to request the full amount authorized by Congress in the CHIPS and Science Act to be appropriated in this year’s budget, and we look forward to continuing to work with the Administration and members of Congress to build a more vibrant, resilient, and equitable American economy.”

Read the full letter here.

Background:

TechNet was an early supporter of what ultimately became the Chips and Science Act of 2022 and urged Congress to pass an innovation and competition package every step of the way:

  • In the 116th Congress, TechNet was quick to endorse the Endless Frontier Act, which served as the foundation for USICA and the CHIPS and Science Act.
  • TechNet applauded the Senate passage of USICA in 2021, and the introduction and passage of the America COMPETES Act in the House of Representatives earlier this year.
  • TechNet sent a letter to Congressional leaders addressing several priorities to consider as the Senate and House of Representatives began work to reconcile the differences between USICA and the America COMPETES Act.
  • As the Senate considered moving forward with funding for domestic semiconductor production only, TechNet encouraged the Senate to include provisions like regional technology hubs and enhanced STEM education programs. The Senate has since included many of the provisions TechNet advocated for in the CHIPS and Science Act.
  • TechNet applauded the Senate passage, the House passage, and the Presidential signing of the CHIPS and Science Act.
  • TechNet ran a six-figure advertising campaign in West Virginia, Mississippi, Indiana, Ohio, and Idaho urging Congress to pass an innovation and global competitiveness package.