Consortium announces five projects aimed at leveraging AI and biotechnology to drive economic growth and innovation.
(Baltimore, Md.) – Today, the Greater Baltimore Committee (GBC) hosted a roundtable discussion at Coppin State University with U.S. Senators Ben Cardin and Chris Van Hollen, along with Lt. Governor Aruna Miller, to discuss the Baltimore Region’s federal Tech Hub designation and the submission of the Phase 2 application for funding. The event brought together key stakeholders, including representatives from the growing consortium of area tech firms, academic institutions, state and local government entities, economic development organizations, and workforce development partners who have come together to support the applications in Phase 1 and 2, to highlight the region’s commitment to innovation and economic development.
The Baltimore Region was designated one of 31 federal Tech Hub by the Biden-Harris administration in October 2023, marking a significant milestone for the region’s tech and innovation ecosystem. The designation provides access to a share of $10 billion in funding over five years to drive regional technology- and innovation-centric growth. Since the designation, the consortium, which has grown from 38 to 48 members, has received 100 letters of commitment from consortium members, elected officials, and public and private partners.
“The Baltimore Region’s recent, federal designation as a Technology and Innovation Hub highlights new, coordinated initiatives that will strengthen our economy’s global competitiveness with jobs and innovation right here in Maryland,” said Senator Cardin. “We’re working together as a team to build the case for a federal commitment of funding to get these regional initiatives off the ground, attract employers and entrepreneurs to the Baltimore area, and build a diverse and equitable technology workforce. The CHIPS and Science Act, signed into law by President Biden in 2022, is propelling Maryland to the forefront of technology and innovation.”
“From our world-class universities to our top-notch workforce, the Baltimore region is primed to lead our nation’s advances in biotechnology and precision health care. That’s why we worked to secure Baltimore’s designation as a Tech Hub, and why we’re fighting for the Greater Baltimore Committee’s proposal for funding through the second round of the Tech Hubs program. These investments – made possible through our passage of the Chips & Science Act – would help unlock the full brainpower and talent of the Baltimore region’s equitable technology initiatives – spurring more jobs, innovation, and economic growth,” said Senator Van Hollen.
“The Moore-Miller administration is firmly committed to supporting the game-changing Tech Hub designation,” said Maryland Lt. Governor Aruna Miller. “Our administration looks forward to continuing to work with our federal and state partners and our local communities to build and support the region’s tech economy, make Maryland more competitive, and do so with a focus on equity and inclusion.”
“We are grateful for the support of our congressional delegation and Lt. Governor Miller in helping to secure the Tech Hub designation,” said Mark Anthony Thomas, President and CEO of the Greater Baltimore Committee. “We have already begun to see our initial success catalyzing a greater culture of collaboration and partnership to advance our regional economy.”
During the roundtable discussion, Senator Cardin emphasized the importance of the Tech Hub designation for driving economic growth and job creation in the region. Senator Van Hollen highlighted the role of innovation in addressing pressing challenges and promoting prosperity. Lt. Governor Miller underscored the state’s commitment to supporting innovative initiatives that benefit Marylanders.
Dr. Mohan Suntha, GBC Board Chair and President and CEO of the University of Maryland Medical System, expressed optimism about the region’s future, stating, “This designation is a testament to the remarkable power of collaboration, where diverse sectors have united to forge a path towards enduring economic transformation. With this designation, we find ourselves on the verge of an exciting future that benefits the Baltimore Region in many ways.”
The Phase 2 application, submitted earlier this month, focuses on Biotechnology and Artificial Intelligence and seeks $70 million of federal funding with a match of $7.7 million. The proposal includes five projects aimed at creating a sustainable pipeline of future-ready workers, establishing state-of-the-art biomanufacturing facilities, and fostering innovation and entrepreneurship in the region:
Biomanufacturing Core: Addresses national security vulnerabilities created by insufficient U.S. biomanufacturing capacity. Project partners will establish a state-of-the-art pilot biomanufacturing facility in Harford County, create a comprehensive Biomanufacturing Catalyst program and launch a groundbreaking Center for Community Impact in Manufacturing.
The UpRise for Equitech: Creates a first-of-its-kind startup advancement network working with entrepreneur support organizations building investor networks and strengthening procurement pathways.
Anchor Innovation Hub: Connects, mobilizes, and leverages the region’s physical and programmatic assets to help founders and early-stage entrepreneurs commercialize their innovations. Project partners will establish an intake and assistance program with case managers who will guide entrepreneurs and startups to apply for startup advisory and resourcing programs.
The Baltimore Biotech Jobs Initiative: Creates a sustainable pipeline of future-ready workers who will form the backbone of America’s first Equitech region. Project partners will develop education and training pathways to meet biomanufacturing and life sciences demand, while creating interconnected pathways for employers and developing support mechanisms for individuals pursuing biotech.
Regional Innovation Office: Led by the Greater Baltimore Committee’s Regional Innovation Officer (RIO), this office will serve as a command center specifically organized to multiply innovation across all component projects with a “One Baltimore” approach: providing essential leadership and governance.
The Phase 2 proposal centers workforce and equity. In the consortium, 21% of member organizations are women-led and 29% are BIPOC-led. Collectively, the GBC estimates that the five component projects are expected to create 32,700 direct and 65,600 supplier and induced jobs across various skill levels and sectors over 10 years, which is higher than the organization’s initial estimate shared late last year. Further, within 10 years, the GBC estimates that the Tech Hub investment could catalyze $8 billion in real value-add, representing 3.2% of regional GDP, and generate an estimated 14% return on investment.
“We are confident that our Phase 2 application demonstrates the region’s commitment to innovation, workforce development, and equity,” said Pothik Chatterjee, Chief Economic Officer for GBC. “We look forward to continuing to work with our partners to drive economic growth and create opportunities for all residents of the Greater Baltimore Region.”
The consortium expects to hear a decision on Phase 2 this summer.
ABOUT THE GREATER BALTIMORE COMMITTEE
The Greater Baltimore Committee (GBC) is the leading voice for the private sector in the Baltimore region, providing insightful economic and civic leadership to drive collective impact. Comprised of more than 400 organizations, including large, mid-size, and small companies, nonprofits, foundations, and educational and healthcare institutions, the GBC is dedicated to fostering the prosperity of the Greater Baltimore region. For more information, visit gbc.org.
###