Baltimore has been selected as a federal technology center for artificial intelligence and biotechnology

The Baltimore region is recognized as a national technology hub, capable of generating hundreds of millions of dollars in investment and tens of thousands of jobs.

The region, which includes Baltimore and seven surrounding counties, was selected as one of 31 cities or regions for the federal Technology Center program, putting the region in line for $10 billion in federal funding over five years, including $500 million in to be An initial round

President Joe Biden announced the hubs on Monday, part of a plan designed to invest in high-potential regions in the United States and their global competitiveness in emerging technologies.

Mark Anthony Thomas, president and CEO of the Greater Baltimore Committee, was scheduled to join other candidates on the announcement at the White House. GBC organized the bid for the regions, which was developed by a consortium of 38 business and technology leaders.

The designation will catalyze a transformative era of growth, innovation and equitable economic opportunity for our region, Thomas said in a news release.

The designation is expected to generate $4.2 billion in economic impact and 52,000 jobs by 2030, according to GBC estimates.

The regional center plans to focus on artificial intelligence and biotechnology, a combination that is still in the early stages of adoption. It refers to the use of artificial intelligence and machine learning in health data for applications such as diagnostics and drug development.

“Using the power of data science and biotechnology, we are poised to become a pioneer in predictive health that has positive impacts on individual patient well-being and community health,” said Dr. Mohan Sontha, president and CEO of the University of Maryland Medical System. Chairman GBCs The possibilities for our region are unlimited.

Members of Maryland’s congressional delegation said Monday that they expect the technology hub program to launch high-tech industries and entrepreneurs throughout the Baltimore area.

This is about creating new jobs and Emerging industries are for the long term.

Gov. Wes Moore, also a Democrat, said the designation will draw national and even international attention to the Baltimore region’s potential and its place at the forefront of tech innovation.

“This will help grow a fairer economy that expands opportunity, leads to better outcomes for our residents and makes us a leading center of innovation internationally,” Moore said in a statement.

Baltimore submitted its application to the U.S. Department of Commerce’s Office of Economic Development in August. A group of businesses, colleges and universities, workforce development experts, and state and local officials are expected to work together to develop the center.

The bid featured the Baltimore region as home to more than 400 tech startups with access to federal and university R&D funding and more than a dozen corporate-supporting accelerators. The program also said the region has a track record of commercialization in medical diagnostics, healthcare analytics, medical devices, and gene and drug therapy.

“For years, Baltimore City and the entire region have nurtured a growing technology industry and welcome Baltimoreans from all walks of life to help shape the future of technology,” Baltimore Mayor Brandon Scott said in an announcement.

The mayor said that official designation will help accelerate this work, stimulate new innovations and attract residents.

Baltimore County Executive Johnny Olzewski Jr. called the creation of the planned center a game-changer for the region.

He said he expects the designation will help provide the support, resources and opportunities we need to create jobs, grow communities and transform the entire Baltimore region into an innovation hub that creates the tools of tomorrow.

A $10 billion federal initiative passed as part of the Science and Chip Act of 2022 aims to encourage technology-related manufacturing and commercialization in parts of the United States with the potential to become globally competitive and create jobs within 10 years. is the future

The program aims to diversify technology investment and development beyond Silicon Valley, Boston and New York, which currently attract 80 percent of technology funding.

The Baltimore center seeks to combine artificial intelligence, machine learning, and autonomy with biotechnology, medical technology, genomics, and synthetic biology, and to commercialize technologies that can improve health at the individual, societal, and national levels.

This technology can be used in areas such as clinical decision making, bioethics, the development of personalized medicine and new treatments. Other goals include the development of advanced biomanufacturing capabilities and the development of advanced manufacturing with medical technology.

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The Baltimore Consortium has identified 40 technology-related projects that require $700 million in funding.

The GBC said dozens of businesses and organizations across the region helped shape the proposal, with 170 letters of support for AI and biotech companies. The consortium included the private sector, with companies such as Fearless, Conscious Ventures Partners, Blackbird Labs, Early Charm Ventures and Mindgrub, eight universities, economic development agencies from all jurisdictions and workforce development groups.

31 centers located in 32 states and Puerto Rico in urban and rural areas were selected from nearly 400 applications. Hubs are organized into eight broad categories, such as Autonomous Systems, Quantum Computing, Biotechnology, Precision Medicine, Clean Energy Advances and Semiconductor Manufacturing, with each hub specializing in specific technologies.

Other hubs that will focus on advancing Biotech: Precision and Prediction, such as Baltimore, include the Wisconsin BioHealth Biotechnology Center, the Birmingham Biotechnology Center, Minnesota MedTech 3.0 and the Greater Philadelphia Area Precision Medicine Technology Center, which will focus on the Precision Medicine Technology Center. became. Ending precision medicine in Pennsylvania, Delaware, Maryland and New Jersey.

Other neighboring facilities include the Center for Advanced Pharmaceutical Technology in Virginia.

Each of the 31 designated centers will be eligible to move on to the second stage to apply for funding for specific projects. An initial pool of $500 million of the $10 billion has been allocated to be distributed among all hubs in the first phase. The Hubs could ask for $40 million to $70 million each.

The bid is one of GBC’s first major initiatives under Thomas, who led economic development in Pittsburgh, New York and Los Angeles before replacing longtime GBC CEO Donald Fry in December, leading the group, which merged with Economic Alliance last year, to got hold of Greater Baltimore

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