After losing nearly 70 million dollars to create a technology center designated by the state, the Baltimore area is preparing to win a share of the funds that can be carried out next year.
Baltimore and seven surrounding counties were selected in October along with 30 other cities or towns for the federal Tech Hubs Program. That allows the area to compete for $10 billion in federal funding over five years as it seeks recognition as a center for artificial intelligence and biotechnology.
But Baltimore was not selected last month for a share of $504 million in the first round of grants, which will go to 12 technology centers in states such as Colorado, Indiana, New Hampshire, New Mexico and Montana.
The Greater Baltimore Committee, which organized the first proposal made by business and technology leaders, is preparing for the next round, the group’s chairman said Friday.
“As one of the 31 selected areas, we are still in the game and we will be competing with many resources that are still to be distributed,” through the federal tech hub program, said Dr. Mohan Suntha, chairman of the GBC Board and president and CEO of the University of Maryland Medical System, in an interview with The Baltimore Sun.
The five proposed projects of this region will create a sustainable way for workers, to set up high quality plants to make a living and support businesses and innovation. The next tool will look at how to properly organize and strengthen the case for those projects.
The area plans to focus on technology that applies artificial intelligence and machine learning to health data for applications such as disease diagnosis and drug development.
“Out of 19 [tech hubs] who were not funded at this stage, we will be in a position to compete with them in the future,” said Mark Anthony Thomas, president and CEO of GBC during the interview on Friday. “I’m still very hopeful that because it’s a five-year program, my hope is that three years from now, people say this was a setback, and look at what we’re saying see how many investments there have been since then.
Plans for the Baltimore facility could also be eligible for funding from other federal programs as well as other investments, he said. The coalition plans to take a coordinated approach as projects continue to improve federal funding.
Thomas said he has not heard officially why Baltimore was not selected. But he believes that this area would have been in trouble because the cooperative and cooperation and cooperation and efforts were organized last year. However, some areas have spent years building the environment and political support.
The tech hub program was designed not only to bring cities together but also to spread capital in unexpected places, Thomas said. The White House and the Department of Commerce have requested $4 billion for applications in the next phase, which can be divided into several phases.
The Biden administration’s plan aims to invest in and grow the technology economy in underserved communities across the country and make them globally competitive in emerging technologies. The CHIPS and Science Act, signed into law in August 2022, authorized $10 billion for the federal program over five years. To date, $541 million has been allocated to the program administered by the Department of Commerce’s Economic Development Administration.
Problems facing Baltimore include political uncertainty due to the election in November, Thomas said, although the program was scheduled to have two parts. He also noted that negative perceptions of Baltimore can indirectly harm the region’s prospects.
“If there’s a change in management and it’s not the fans in Baltimore, that could be a challenge,” Thomas said, noting that the team may have to change its approach or rely more heavily on that specific area. what can fill it. artificial intelligence and biotechnology.
The environmental technology center is in line for a $500,000 federal grant this month to support its recycling. If additional funding is provided at the end of the year, a new application period can be opened in January with a new batch of applicants supported by next summer.
The GBC found itself spearheading an ambitious plan as it was also emerging, shortly after the business advocacy group merged in 2022 with the Economic Alliance of Greater Baltimore and Thomas joined the organization.
Although the projects of the technology center and building the union had to be combined after a few months, the effort “helped the business to appreciate the knowledge of the skills and identify the different assets that We have them,” Suntha said.
Many local technology firms, academic institutions, state and local agencies, economic development agencies and workforce development groups are committed to establishing and supporting a Baltimore base. The site’s first application received more than 100 letters of support, representing commitments of more than $800 million.
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