A big win for Wisconsin in the BioHealth field. After a nationwide competition, the state has been named one of 12 regional tech hubs.
The win means $49 million in federal funding to bolster biohealth manufacturing, medical research efforts, and job growth opportunities in the Milwaukee-Madison region.
"We really want to be a global leader in the biohealth industry," said Wendy Harris, Regional Innovation Officer for the Wisconsin BioHealth Tech Hub.
Harris played a key role in landing the funding with a big support team of local leaders and companies like GE Healthcare.
"What's really different about the biohealth industry in Milwaukee is that we already have great companies right here," Harris said. "We want to expand on that along with all of the other biohealth industries that we have here."
The state of Wisconsin will kick in $7.5 million and another $24 million from private and industry groups - bringing the total to nearly $80 million for Wisconsin's tech hub.
The ambitious goal is to create up to 30,000 jobs and an anticipated $9B in economic growth over the next 10 years.
"We have a very specific focus on creating jobs," said Harris. "Some on the technical side, and some on the clinical side. Our project leaders will be looking for a workforce, both from an engineering perspective as well as through Medical College of Wisconsin to do their screening programs."
The nationwide competition was created by the Economic Development Administration at the US Department of Commerce, with $514 million in grants for this year from the bipartisan CHIPS and Science Act signed by President Biden in 2022.
Senator Tammy Baldwin actively supported the legislation and effort to bring a tech hub to Wisconsin. “Today’s announcement recognizes our state’s rich history of innovation and manufacturing and doubles down on our state’s potential to be a major player in the next chapter of an up-and-coming industry.”
The state made the first cut of 31 designated hubs last October out of 190 applications.
On Tuesday - Wisconsin was named one of 12 regional tech hub finalists.
“President Biden has been clear that you shouldn’t have to move to one of a handful of cities to get a good-paying job in tech," said U.S. Secretary of Commerce Gina Raimondo in a statement.
"Now, thanks to the Tech Hubs program, we’re making good on that sentiment by expanding America’s innovation ecosystem and creating economic opportunity in new technology sectors all over the country.”
BioForward Wisconsin has been on a mission for decades to help grow the region's biohealth industry. CEO Lisa Johnson sees an even bigger opportunity with the Tech Hub announcement. "Through strategic investments and innovative initiatives, we will continue to drive progress, improve patient outcomes, and stimulate economic growth in our region."
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