St. Louis technology project has been named a finalist of the US Department of CommerceRegional Build Back Better Challenge of $ 1 billion, and could receive up to $ 100 million.
Greater St. Louis, Inc., plans to create a “technology triangle” with a new St. Louis Advanced Manufacturing Innovation Center. The hub would identify and resolve technology issues affecting the growth and competitiveness of the industry, implement next-generation technologies in multiple sectors, accelerate the transition between idea generation and production, and establish a network of qualified employees, according to the project description.
The goal of the project is to leverage the St. Louis metropolitan area as a globally competitive economy for advanced manufacturing, agriculture, and medical biosciences and geospatial technology.
Greater St. Louis, Inc., was named one of 60 finalists in the challenge – chosen from more than 500 applicants from all over the country. It is the only project in Missouri selected as a finalist.
If you advance to the next stage of the competition, you could receive between $ 25 million and $ 100 million. He has already received $ 500,000 for being chosen as a finalist.
“The Rebuild Better Regional Challenge aims to boost local economies and increase American competitiveness around the world,” said Commerce Secretary Gina Raimondo. “The great interest in this program shows the demand for the Build Back Better agenda and the desire not only to create high-paying jobs, but also to strengthen our country’s economic resilience for years to come.”
The challenge, through the United States Economic Development Administration under the umbrella of the Department of Commerce, was the result of the United States Rescue Plan. Its goal is to provide some economic recovery from the COVID-19 pandemic.
The deadline for the next phase of the project is March 15.