In December 2022, the Consolidated Appropriations Act, 2023 was signed into law, appropriating $1.6 billion to the Economic Development Administration (EDA) for fiscal year 2023 programming. The appropriation includes $500 million for launching the Regional Technology and Innovation Hub (Tech Hubs) program. This will identify and support innovative centers in key U.S. regions, accelerate a region’s evolution into a global leader in an industry of the future, and strengthen U.S. global competitiveness within critical technologies.
Receiving the designation for this program is extremely competitive, and only 20 hubs are anticipated across the nation. However, Wisconsin has a strong story to tell with its long tradition of business-government-academic collaboration. The competitive process will include opportunities for Tech Hub designation, funding for strategy development, planning and capacity building, and awards for strategy implementation.
Our statewide application will demonstrate assets we currently have to drive technology and innovative centric growth that leverages our R&D strengths. We will also demonstrate how we catalyze the creation of good jobs for American workers at all skill levels equitably and inclusively. Our New North region will be part of that narrative, with our rich history of manufacturing and technology-based innovation, increased venture capital, research commercialization, distinct urban and rural assets, cultural diversity and sustainable business models.
With the highest concentration of manufacturing in Wisconsin, the New North region continually demonstrates that manufacturing is nothing like it was five years ago. Our manufacturing base also includes food production, packaging and food safety, all important in feeding America. Advancements in technology, capital upgrades and automation have supported significant business expansion, job creation and productivity. This has contributed to the competitiveness and growth of domestic suppliers.
The New North region also fosters a regional entrepreneurial ecosystem by supporting startups and the commercialization of new technologies, as well as creation of technology-driven businesses and high-skilled, well-paying jobs of the future. New North created the NEW Launch Alliance three years ago to support business discoveries and idea creators in Northeast Wisconsin. Through this entity, we collaborate frequently with the Milwaukee and Madison regions, sometimes referred to as the Innovation Triangle, or “Cheese Wedge.” TitletownTech, formed out of a partnership between the Green Bay Packers and Microsoft to build and fund early-stage, high-growth startups, is a model that other states are trying to emulate.
Many of the companies and higher educational institutions in the New North have also addressed climate change through environmentally sustainable developments, which have increased U.S. exports and foreign direct investment. From engineering, design and implementation of renewable energy and stronger microgrids, many of our companies are leading the way in emerging technology for cleaner, more efficient use of resources.
New North is excited to be a collaborator in Wisconsin’s Tech Hub submittal to support critical, new technologies, accelerate economic growth and ensure that the industries of the future start, grow and remain in our region, in Wisconsin and in the United States.
It is Wisconsin’s time to be identified as a leader in innovation, and the New North is here to help support that narrative.
Company: New North,Inc.
Innovation: NEW Launch Alliance
Website: thenewnorth.com
