Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, joined nine other organizations in a letter to Congressional leadership urging the Regional Technology and Innovation Hubs (Tech Hubs) program established in the CHIPS and Science Act be fully funded at authorized levels for fiscal year 2024. The following can be attributed to TechNet President and CEO Linda Moore:
“Investments authorized in the CHIPS and Science Act will help usher in a new era of innovation and opportunity across the U.S., including in regions that were once fueled by thriving industries and are ripe with potential. Regional tech hubs will inspire a new generation of innovators to launch potentially life-changing inventions, catalyze startup ecosystems, and create jobs in communities across the country.
“By funding tech hubs and other historic investments in the CHIPS and Science Act at the authorized level, Congress can accelerate our global competitiveness in critical technologies like artificial intelligence, semiconductors, and quantum computing and help ensure the U.S. wins the next era of innovation. However, as drafted, Congress’ fiscal year 2024 bills would provide only 20 percent of the amount authorized for the first two years of the Tech Hubs program, a 92 percent reduction below the funding levels appropriated by Congress last fiscal year.
“Failing to make good on Congress’ intended investments in America’s technology leadership would put our economy and our national security at risk.”
You can read the full letter to Congress here.