The University’s Illinois Fermentation and Agriculture Biomanufacturing program has received a substantial boost with a $51 million grant from the federal government. This funding is part of a $504 million allocation from the U.S. Economic Development Administration.
The grants are part of the CHIPS and Science Act of 2022. The act, formally known as Creating Helpful Incentives to Produce Semiconductors, aims to “advance America’s global leadership in critical technologies, and strengthen our national and economic security,” according to the EDA.
The White House announced that 12 tech hubs across the nation will share the $504 million to enhance regional innovation and growth. The iFAB focuses on biomanufacturing, converting crops like corn and soybeans into a wide range of high-value commodities.
In a press release, Vice President Kamala Harris stated the importance of this investment.
“Every American deserves the opportunity to thrive, no matter where they live,” Harris stated. “These Tech Hubs will give regions across our nation the resources and opportunities necessary to lead in the economy of tomorrow while creating good-paying jobs for American workers.”
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According to WCIA, state leaders are pleased with iFAB’s selection for this funding. Senator Tammy Duckworth (D-IL) expressed enthusiasm at the decision.
“I’m so pleased iFAB is receiving this critical Tech Hub funding, unlocking innovation, investment and job creation for years to come,” Duckworth said. “Illinois is already a hub of agriculture, manufacturing, transportation and technology, making our state ideally positioned for these Tech Hub awards.”
Congresswoman Nikki Budzinski (D-IL), whose district includes the University, responded similarly.
“The $51 million federal investment in the iFAB Tech Hub is a game changer for Central Illinois,” Budzinski said. “The funding announced today will build on that foundation with explosive economic growth and place Decatur, Monticello and Champaign at the center of a booming bioeconomy.”
More information on the CHIPS and Science Act is available on the EDA’s website. More information about iFAB is available on their website.
