More than a dozen Wisconsin businesses, colleges and economic development agencies are slated to share $49 million in federal funding for a medical sciences technology hub expected to create thousands of jobs.
The funding, announced Tuesday by U.S. Sen. Tammy Baldwin, will focus on biotechnology and personalized medicine at companies and universities which are largely located in the Milwaukee and Madison areas.
Personalized medicine uses a person’s genetic profile to guide medical decisions about the prevention, diagnosis, and treatment of diseases.
The funding was awarded through the 2022 CHIPS and Science Act. Over the first 10 years, the Wisconsin tech hub designation is projected to create more than 30,000 direct jobs. Additionally, it is projected to create $9 billion worth of economic development in the state and 111,000 indirect jobs, according to Baldwin.
Nationwide, CHIPS and Science Act funding aims to encourage and support creation of regional technology hubs to spur scientific advances and bolster domestic research, manufacturing and jobs.