It might not be “Squid Game,” but the federal government’s place-based economic development competitions have regions fighting to win funds nonetheless.
In May, the U.S. Economic Development Administration (EDA) began accepting applications for the Regional Technology and Innovation Hubs program and its $10 billion of authorized, though not yet fully available, funding. The Tech Hubs program is meant to identify regions — likely areas that would be considered secondary or tertiary real estate markets — that demonstrate the potential for growing into “globally competitive” tech centers within the next 10 years.
The EDA is targeting semiconductor manufacturing, robotics and biotechnology among other likely areas of investment.
With $500 million already funded, the program’s first phase will designate 20 or more regional consortia comprised of economic…
