Gov. Tony Evers, together with U.S. Sen. Tammy Baldwin, announced in a press release today that Wisconsin has officially been selected as a U.S. Regional Tech Hub, unlocking $49 million to grow the state’s personalized medicine and biohealth sector. This will include advancing research and innovation, growing the state’s economy and creating jobs, and boosting American competitiveness in a cutting-edge industry.
The designation will allow Wisconsin’s consortium of 15 public and private partners organized by the Evers administration through the Wisconsin Economic Development Corp. (WEDC) to boost research and expand lab space, increase coordination and collaboration, improve access to capital to start and grow businesses, and further build out the personalized medicine and biohealth technology sector.
The Wisconsin Biohealth Tech Hub Consortium includes members from the UW system, UW–Madison, GE HealthCare, Rockwell Automation, Exact Sciences Corp., BioForward Wisconsin, Employ Milwaukee, Accuray, Plexus, WRTP Big Step, Milwaukee Area Technical College, Madison College, the Madison Regional Economic Partnership, and Milwaukee7.
Over the first 10 years, the Tech Hub designation is projected to create more than 30,000 jobs in the personalized medicine sector and over 111,000 indirect jobs attributable to the Tech Hub in Wisconsin. Additionally, the Tech Hub is projected to create $9 billion worth of economic development in Wisconsin within the first decade.
Greater Madison Chamber of Commerce President Zach Brandon released the following statement with regard to the news:
“This is a huge win for our region and our state, but our work is not done yet. We call on Congress to fund the program beyond the current appropriated amount of $500 million and reach the fully authorized amount of $10 billion to build upon today’s announced investments. This is critical to unlocking the full potential of this program and maximizing our nation’s innovation output.”
