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October 23, 2023

Greater Baltimore Region designated as Federal Tech Hub as part of landmark U.S. Economic Development Administration program to position centers of innovation as globally competitive in emerging industries

GREATER BALTIMORE REGION DESIGNATED AS FEDERAL TECH HUB
AS PART OF LANDMARK U.S. ECONOMIC DEVELOPMENT ADMINISTRATION PROGRAM TO POSITION CENTERS OF INNOVATION AS GLOBALLY COMPETITIVE IN EMERGING INDUSTRIES

Designation provides the Greater Baltimore Region with access to a share of $10 billion to catalyze funding in technologies focused on the intersection of artificial intelligence and biotechnology

(Baltimore, Md.) – Today, the Biden-Harris administration declared that the Greater Baltimore Region (MSA) has officially been designated as a federal Tech Hub through a landmark Economic Development Administration program designed to make regions across the United States globally competitive in emerging technologies. The coordinated, five-month application bid organized by the Greater Baltimore Committee convened area tech firms, academic institutions, state and local government entities, economic development organizations, and workforce development partners around identifying tech related projects that could benefit from valuable funding by the federal government.

The EDA will name 31 tech hubs from nearly 400 Tech Hubs applications and just under 200 consortia designation requests. The Baltimore Region is well-positioned for access to a share of $10 billion in stimulating investment in the regional bid’s area of focus: artificial intelligence and biotechnology.

“This momentous designation marks a pivotal step in our region’s journey towards technological leadership and shared prosperity. The Greater Baltimore Committee’s pursuit of the Tech Hub status demonstrates our collective belief in the potential of predictive health technologies to revolutionize our industries and elevate our entire community. Our region’s strength in healthcare and life sciences, combined with our ongoing collaboration with the burgeoning tech ecosystem, underscores our shared commitment to innovation. By harnessing the power of data science and biotechnology, we stand poised to become pioneers in predictive health, with positive impacts on individual patient well-being and community health. The possibilities for our region are limitless, and this Tech Hub designation is the catalyst that will propel us into a future where innovation and well-being converge,” said Mohan Suntha, MD, MBA, President and Chief Executive Officer of the University of Maryland Medical System (UMMS) and Chair of the GBC Board of Directors.

“Being at the forefront of tech innovation and taking part in programs like the Biden Administration’s first of its kind Tech Hub is intrinsically invaluable to making this Maryland’s decade,” said Governor Wes Moore. “The support that this investment will bring to the greater Baltimore region – now nationally recognized as an area of high potential – will help grow a more equitable economy that will expand opportunity, lead to better outcomes for our residents and make us an internationally leading innovation hub. I applaud the broad coalition of businesses and organizations that put this proposal together to help build a Maryland that will leave no one behind.”

“This designation will catalyze a transformative era of growth, innovation, and equitable economic opportunity for our region. While competitive, this program was designed to support regions like ours; collaborative communities with the potential to propel to the forefront of the tech revolution,” said Mark Anthony Thomas, President and CEO of the GBC, who is scheduled to appear at the White House as part of the announcement of designees at 2:00 p.m. today. ”This is a first milestone for what will be GBC’s strategic focus on creating a regional economic environment that is positioned to win.”

“Today’s decision by the Biden Administration and the U.S. Economic Development Administration to designate Baltimore as a Regional Innovation and Technology Hub or ‘Tech Hub’ is a clear validation of our city’s unwavering commitment to innovation, adaptability, and the exceptional pool of talent that resides in Baltimore and Maryland,” said Senate President Bill Ferguson. This designation marks a significant milestone in our quest to revolutionize healthcare through the application of artificial intelligence to biotechnologies. With this award, we are poised to propel technological advancements, generate employment opportunities, and cultivate economic prosperity within our community. I deeply appreciate the leadership at the Greater Baltimore Committee and all of the coalition partners for demonstrating how our region can work together to meet our potential.”

“For years, the City of Baltimore and the entire region have been nurturing a growing tech industry and welcoming Baltimoreans from all walks of life to help shape the future of tech right here in Charm City,” said Mayor Brandon M. Scot. “By officially designating our region as a tech hub, the Biden Administration is going to accelerate all the great work already happening, fuel a new wave of innovation, and help attract a new wave of talented residents. Our city is excited about the opportunities to create more jobs, continue transforming our region’s economy, and help make the tech revolution an equitable one.”

“This is a game-changer for the entire Baltimore region. We thank the Biden Administration for recognizing our region’s potential as a global leader in bold and emerging fields like biotechnology and artificial intelligence,” said Baltimore County Executive Johnny Olszewski. “I am confident that this designation will help provide the support, resources, and opportunities we need to create jobs, grow communities, and transform the entire Baltimore region into an innovative hub that creates the tools of tomorrow.”

With this designation, GBC and consortium members will move to the second phase of this program, where they outline how they would operationalize the various projects collected in the Baltimore MSA bid. In Phase 2, Designated Tech Hubs will compete for funding for Implementation projects to help propel the region into a self-sustaining, globally competitive Tech Hub.

This groundbreaking achievement was made possible by a unified and coordinated effort supported by dozens of businesses and organizations throughout the Greater Baltimore Region. In shaping the bid, 170 leters of support were provided by AI& Biotech industry partners, Governor Moore, and the Maryland elected delegation. The bid included the private sector, higher education, economic development, and workforce development, all coming together to position the region as a hub for technological innovation.

The consortium members included:

  1. Morgan State University (HBCU)
  2. Coppin State University (HBCU)
  3. Johns Hopkins University
  4. Loyola University Maryland
  5. UMMS
  6. UMB
  7. UMBC
  8. Towson University
  9. Maryland Department of Commerce
  10. TEDCO
  11. Baltimore Metropolitan Council
  12. City of Baltimore
  13. Upsurge Baltimore
  14. Fearless
  15. Conscious Ventures Partners
  16. Blackbird Labs
  17. Early Charm Ventures
  18. Mindgrub
  19. CareFirst BlueCross BlueShield of Maryland
  20. Evergreen Advisors
  21. Fulton Bank
  22. Bio Buzz
  23. LaunchPort
  24. Greater Baltimore Committee
  25. Baltimore Development Corporation
  26. Baltimore County Economic Development
  27. Howard County Economic Development
  28. Anne Arundel County Economic Development
  29. Harford County Economic Development
  30. Carroll County Economic Development
  31. Queen Anne’s County Economic Development
  32. Cecil County Economic Development 33. Catalyte
  33. Npower
  34. Digital Harbor Foundation
  35. Abell Foundation
  36. Last Mile Education Fund
  37. World Trade Center Institute

The submitted bid was organized around two core focus areas: artificial intelligence and biotechnology, guided by the insight that the Region can lead in predictive health technologies, a tech subset that has the potential to improve health outcomes individually and systemically. Given the opportunity and funding, a designation has the potential to stimulate large-scale job creation, wealth creation, and mitigate health disparities in the region. The predictive technologies market is expected to be $70 billion globally by 2030, and GBC estimates that the total market opportunity for the Baltimore-focused portion could be $4.2 billion by 2030. The growth of this technology in the Baltimore MSA is estimated to create 52,000 jobs during that same time period.

“This momentous achievement stands as a testament to the remarkable power of collaboration, where diverse sectors have united to forge a path towards enduring economic transformation,” said Pothik Chaterjee, Chief Economic Officer for the GBC. “Many businesses and organizations across the region are already making impressive strides in the tech arena. With this designation, we find ourselves on the verge of an exciting future that benefits the Greater Baltimore Region – its businesses, economy, livelihood – in many ways.”

ABOUT 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. Composed of more than 500 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.

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ADDITIONAL QUOTES:

“Designating the Baltimore region as a federal tech hub is a powerful endorsement of the major assets in our city and surrounding areas to promote innovation, economic competitiveness, and long-term prosperity for everyone. Morgan State is the only public, comprehensive high research university in the city of Baltimore. We already have several new research centers that are producing cutting-edge research and technological innovations and solutions to address many of our vexing challenges,” said David K. Wilson, president of Morgan State University. “We are thrilled to be a major partner in this effort, bringing to the table our impressive expertise in engineering, equitable artificial intelligence and machine learning systems, and microelectronics, to name a few. It’s time for Baltimore to lead the nation in innovation, startups, high wages, and high-growth industries, and Morgan is ready to roll up its sleeves to help make that happen. This is a great day for Baltimore!”

MEDIA CONTACT:

Amy Burke Friedman, PROFILES 410-243-3790 / afriedman@profilespr.com