PENNSYLVANIA — In a significant boost to the local technology and life sciences sectors, the Economic Development Administration (EDA) of the U.S. Department of Commerce this week announced that the Greater Philadelphia Region Precision Medicine Tech Hub has been designated as one of the first 31 Tech Hubs across the country. This designation recognizes regions with the potential for rapid growth in key technology sectors.
Led by Ben Franklin Technology Partners of Southeastern Pennsylvania, the Greater Philadelphia Region Precision Medicine Tech Hub will leverage the area’s rich life sciences assets and research and development expertise. Through applications in biotechnology, medical technology, genomics, synthetic biology, machine learning, robotics, and others, the hub hopes to become a global leader in end-to-end precision medicine. The initiative aims to revolutionize the ways diseases are diagnosed, prevented, and treated, while also increasing evidence-based technology applications to decrease health disparities.
The Tech Hub designation makes the Greater Philadelphia Region Precision Medicine Tech Hub eligible to apply for the next phase of the program, which could see investments of between $50-$75 million in each of up to 10 Designated Hubs.
The North Central Pressed Materials Strategy Development Consortium in Ridgway, Elk County, is another beneficiary of this initiative. Led by the North Central Pennsylvania Regional Planning and Development Commission, the consortium will develop a strategic roadmap to strengthen the rural region’s capacity to diversify the production of pressed materials and machined parts, including their emerging application to electric vehicle production.
DCED Secretary Rick Siger commended the hard work of the Ben Franklin Technology Partners of Southeastern PA and North Central Pennsylvania Regional Planning and Development Commission in securing these hub projects. He stated that the Tech Hub designation in Southeastern Pennsylvania and Planning Grant in rural North Central counties will lead to an incredible expansion in advanced technology, innovation, and significant job growth.
The EDA Tech Hubs Program aims to strengthen U.S. economic and national security by investing in diverse regions with assets and resources that have the potential to become globally competitive in future technologies and industries.
Delaware Governor John Carney, Pennsylvania Senator Bob Casey, Pennsylvania Senator John Fetterman, and Delaware Senator Tom Carper all applauded the designation and highlighted the potential it holds for future growth and innovation in the region.
“Biotechnology and chemistry has always been a part of Delaware’s DNA. [Our] region has been designated as a Tech Hub by the Biden-Harris Administration to focus on improving health equity,” said Delaware Governor John Carney. “By teaming up with our neighbors in Southeastern Pennsylvania, Delaware — including our NIIMBL biopharmaceutical manufacturing institute at the University of Delaware — will help generate solutions for some of the most prevalent health issues in our nation with innovative technologies.”
“I fought for Greater Philadelphia’s tech hub designation because there is no better place suited to lead the critical precision medicine field,” said Pennsylvania Senator Bob Casey. “This transformative investment will further cement Southeastern Pennsylvania as a national and global leader in medical innovation. As a tech hub and a hydrogen hub, Philadelphia and the region are paving the way to our Nation’s economic future.”
“I applaud this effort from the Biden Administration. You should not have to move to Silicon Valley or Seattle to develop next-generation technologies. This tech hub designation and grant funding will go a long way in getting more high-tech investments to PA, developing our STEM workforce in PA, and making sure Philly leads the world in high-tech medicine for generations to come,” said Pennsylvania Senator John Fetterman.
“Our region’s first-class workforce, combined with our history of medical innovation and robust supply chains, makes this a great place to invest in the tech economy,” said Delaware Senator Tom Carper. “The potential for collaboration and exchange of new ideas is endless, and Delaware is well positioned to be a strong partner in this regional tech hub.”
“I am proud to see our tri-state area designated as a Regional Technology and Innovation Hub, and I look forward to our region continuing to lead the country and the world in biotechnology and precision medicine,” said Delaware Senator Chris Coons. “Our stellar universities, dynamic businesses, and culture of innovation make Delaware a strong choice for a Technology Hub that will create new jobs while helping develop cutting-edge cures for deadly diseases.”
Out of 198 applications received from regional consortia comprising industry, academia, state and local governments, economic development organizations, as well as labor and workforce partners, 31 Tech Hubs were selected. These chosen Tech Hubs encompass diverse regions across 32 states, including Puerto Rico, and represent a cross-section of both urban and rural areas.
For a full list of Tech Hubs, visit TechHubs.gov.
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