Image
Congress gave final approval late last week to the CHIPS and Science Act of 2022. The legislation boosts American spending for construction and expansion of semiconductor manufacturing facilities and other key programs, including the authorization of a regional “tech hub” program designed to create more tech jobs across the country. The bill now heads to President Biden who has already signaled his support.
“On behalf of the bi-state St. Louis business community, we applaud our congressional delegation who made passage possible,” said Tracy Henke Chief Policy Officer of Greater St. Louis, Inc. and President, ChamberSTL. “Most notably, we thank Senators Roy Blunt (R-MO), Dick Durbin (D-IL), and Tammy Duckworth (D-IL), and Representatives Cori Bush (MO-01) and Rodney Davis (IL-13) for their leadership and support.”
Greater St. Louis, Inc. and the metro’s business community have long advocated for legislation including the tech hub program. Greater St. Louis, Inc. sent a letter to the regional congressional delegation in February expressing support for the proposed tech hub program, which was ultimately included in the CHIPS and Science Act of 2022.
The $10 billion tech hub program directs the Department of Commerce to designate 20 geographically distributed regional technology and innovation hubs that have the potential to lead the nation in technology research, development, and manufacturing. Greater St. Louis, Inc. believes the St. Louis metro is a prime candidate for one of the 20 “tech hub” designations, which could potentially unlock millions in federal investment.
The STL 2030 Jobs Plan has helped prepare the region to seek and compete for these federal opportunities. We look forward to continuing to work with our regional partners to grow our metro and drive inclusive economic growth.