As America aims to reduce its reliance on China, Middle America could see a wave of tech investment dollars.
The U.S. House of Representatives passed the $350 billion America Competes Act on Friday, a bill designed to boost domestic tech production and fortify internal supply chains in an effort to curb the country's reliance on foreign powers like China.
Tucked alongside the $52 billion for semiconductor fabrication and the $45 billion for critical good production, is a $7 billion carveout for investments in 10 regional tech hubsMark Muro, a senior fellow with the Brookings Institution who's researched the geography of the digital economy, toldthat the funding in the Competes Act could prove to be the kind of investments that kickstart economic development in the center of the country, exposing the region to the growth experienced on the...
"It's explicitly targeted on heartland up and coming places that maybe aren't terribly distressed but are kind of going sideways and really have potential that could be unlocked by technology investment," Muro continued."I think it is important that we begin to spread the innovation industries out." The bipartisan agenda to compete with China could see the nation reshape it's heartland economy. Here, Senate Minority Leader Mitch McConnell, Senate Majority Leader Chuck Schumer, President Joe Biden and Speaker of the House Nancy Pelosi attend a memorial service for the late U.S. Capitol Police officer William"Billy" Evans as he lies in honor in the Rotunda at the U.S. Capitol on April 13, 2021, in Washington, D.C.
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