Akron could be eligible for up to $70 million in federal funding after being designated a Regional Technology and Innovation Hub by the U.S. Department of Commerce.
U.S. Sen. Sherrod Brown, D-Ohio, announced Monday morning that Akron was one of 31 tech hubs selected from a pool of nearly 400 applicants.
According to Brown, the hub will build on Akron’s leadership in the rubber industry and position the region to lead in producing sustainable polymers — the next generation of rubber and plastics.
“With our rich manufacturing history, Ohio is a natural fit to host a regional technology hub,” Brown said in a prepared statement. “As the historic rubber capital of the world, Akron is the ideal location for the future of sustainable polymers, to produce the domestic rubber and plastics of the 21st century. This investment will ensure that Ohio will lead in the technologies of the future, with Akron at the center of sustainable materials innovation.”
Akron will compete with the other 30 hubs for awards to be presented in the spring. Based on their development plans, five to 10 hubs will receive $20 million to $70 million each to carry out their missions.
In conjunction with the hub designation, Akron was awarded a $400,000 strategy development grant for the University of Akron and the Greater Akron Chamber for sustainable polymers.
Steve Millard, president and CEO of the Greater Akron Chamber, celebrated Monday’s news.
“Over the last several years, the Polymer Industry Cluster, powered by the Greater Akron Chamber, has been working closely with our polymer companies, industry stakeholders, research institutions and economic development partners to double down on our region’s legacy in polymers to create a new future for advanced polymer materials that are both functional and sustainable,” Millard said in a prepared statement.
“Greater Akron’s designation as a tech hub and awardee of the strategic development grant will accelerate our efforts to advance the work, invest in our region’s future, and build on Ohio’s rich history in the polymer sector,” Millard continued. “We are excited to be a part of the opportunity of solving tomorrow’s problems from a foundation of scientific and manufacturing leadership that goes back more than 100 years.”
The creation of regional hubs is part of the bipartisan CHIPS and Science Act of 2022. CHIPS stands for “Creating Helpful Incentives to Produce Semiconductors.” Former U.S. Rep. Tim Ryan, D-Niles, introduced the bill in the House in 2021 and Brown helped shepherd it through the Senate.
In signing the bill into law in August 2022, President Joe Biden said the CHIPS Act would “strengthen American manufacturing, supply chains, and national security, and invest in research and development, science and technology, and the workforce of the future to keep the United States the leader in the industries of tomorrow, including nanotechnology, clean energy, quantum computing, and artificial intelligence.”
The tech hub program is designed to drive regional innovation and job creation by strengthening a region’s capacity to manufacture, commercialize and deploy technology that will advance U.S. competitiveness. The program invests in high-potential regions and aims to transform them into globally competitive innovation centers.
U.S. Rep. Emilia Sykes, D-Akron, a member of the House Science, Space and Tech Committee, which oversees the implementation of the CHIPS and Science Act, also welcomed the news.
“The Sustainable Polymers Tech Hub, under the leadership of the Greater Akron Chamber, will have a significant impact on our community’s ability to lead in sustainability, manufacturing and commercialization,” she said.
In August, Sykes sent a letter to Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo in support of the Greater Akron Chamber’s application for funding.
On Monday, Sykes applauded the “far-reaching value the efforts of this funding and designation will bring not only to Akron and Northeast Ohio, but to our nation.”
U.S. Secretary of Commerce Gina Raimondo said Monday the program “will supercharge innovation across the nation by spurring cutting-edge technological investments and creating 21st century job opportunities in people’s backyards.”
“Each of these consortia will help us ensure the industries of the future — and their good-paying jobs — start, grow and remain in the United States,” Raimondo noted.
Go to TechHubs.gov to read more about the tech hub program.
Mark J. Price can be reached at mprice@thebeaconjournal.com
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