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Governor Requests Release of $7.5 Million to Establish U.S. Regional Tech Hub PDF Print E-mail
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Written by GOV Press Wisconsin   
Tuesday, 09 July 2024 12:11

biohealth-technologyMoney approved in February to grow State’s Biohealth economy and create jobs needs release by Republican-controlled JFC.


MADISON — Gov. Tony Evers, together with the Wisconsin Economic Development Corporation (WEDC), submitted a request to the Republican-controlled Joint Finance Committee (JFC) requesting the release of $7.5 million to BioForward Inc. to establish the state’s U.S. Regional Tech Hub, as provided by 2023 Wisconsin Act 96, signed by Gov. Evers in February.

This comes as, last week, Gov. Evers, together with U.S. Sen. Tammy Baldwin (D-Wisconsin), announced that Wisconsin has officially been selected as a U.S. Regional Tech Hub by the U.S. Economic Development Administration (EDA). This coveted designation unlocks $49 million in federal funding that will advance research and innovation in Wisconsin, grow the state’s economy, and boost American competitiveness in a cutting-edge industry. Over the first 10 years, the Tech Hub designation is projected to create more than 30,000 jobs in the personalized medicine sector and over 111,000 indirect jobs attributable to the Tech Hub in Wisconsin. Additionally, the Tech Hub is projected to create $9 billion worth of economic development in Wisconsin within the first decade.

tony-evers“The state’s designation as a Tech Hub is an exciting and pivotal moment for our state, putting our state center stage as we work to build a economy and workforce in Wisconsin that are ready to meet the demands of the 21st century,” said Gov. Evers. “Wisconsin has long led the way in innovation, and our federal partners have put their trust in us to lead the way because they know that Wisconsin and our workforce are up for the challenge. I look forward to these funds being released by JFC without delay so we can get this work underway expeditiously to grow our workforce and economy and put Wisconsin at the forefront in the nation’s personalized medicine and biohealth technology sector.”

“The Regional Tech Hub represents the Wisconsin Idea at its very best—active collaboration between state government, the private sector, and our educational institutions, all with help from the federal government. Now that the federal funding for Wisconsin has been approved, it’s essential for our state to follow through fully on its commitment to this groundbreaking partnership,” WEDC Secretary and CEO Missy Hughes said.

As provided by 2023 Wisconsin Act 96, Gov. Evers and WEDC are requesting the release of $7.5 million to BioForward Inc., which leads the Wisconsin Biohealth Tech Hub Consortium, a consortium of 18 public and private partners organized by the Evers Administration through WEDC, to establish the state’s Tech Hub and grow the state’s personalized medicine and biohealth technology sector, including expanding lab space, increasing coordination and collaboration across the industry, boosting the supply chain, and developing apprenticeship programs to bolster the industry’s workforce. A copy of the 13.10 request submitted by WEDC to JFC is available here.

The Wisconsin Biohealth Tech Hub Consortium also includes members from GE HealthCare, Rockwell Automation, Exact Sciences Corporation, Employ Milwaukee, Accuray, Plexus, WRTP Big Step, Forward BIOLABS, University Research Park, the Medical College of Wisconsin, University of Wisconsin System, the University of Wisconsin-Madison, Milwaukee Area Technical College, Madison Area Technical College, the Madison Regional Economic Partnership (MadREP), and Milwaukee7.

tammy-baldwinGov. Evers and Sen. Baldwin have been working together to secure Wisconsin’s designation as a Tech Hub and to advocate for continued investments in the Badger State’s growing personalized medicine and biohealth technology industry every step of the way. A comprehensive list of efforts to secure the state’s official designation as a Tech Hub is available here.

More information about the EDA’s Tech Hubs program is available here.

 
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