Wisconsin has been selected as a U.S. Regional Tech Hub, unlocking $49 million to grow the state's personalized medicine and biohealth sector. The Tech Hub designation is projected to create more than 30,000 jobs in the personalized medicine sector and over 111,000 indirect jobs in Wisconsin. It is also expected to generate $9 billion worth of economic development in the state within the first decade [e3a04ba5].
U.S. Senator Tammy Baldwin announced the $49 million investment secured for Wisconsin's Tech Hub, which aims to create more than 30,000 jobs in the personalized medicine sector and over 111,000 indirect jobs in Wisconsin over the next 10 years. The Tech Hub is expected to generate $9 billion worth of economic development in Wisconsin during that time. The funding was secured through the CHIPS and Science Act. Wisconsin was one of 12 Tech Hub applicants awarded a Phase 2 Implementation Grant under the U.S. Economic Development Administration's Regional Technology and Innovation Hubs program [8ee37d2e] [175101c8].
The funding will be used to advance research and innovation, grow the state's economy, create jobs, and boost American competitiveness in the biohealth technology sector. The Wisconsin Biohealth Tech Hub has secured an additional $7.5 million in state funding and $24 million in industry commitments, bringing the total funding and commitments to over $80 million [e3a04ba5].