The Advanced Pharmaceutical Manufacturing Consortia in Petersburg has been awarded the national designation of Tech Hub by the U.S. Department of Commerce’s Economic Development Administration.
The APM Consortia is one of 31 Tech Hubs designated that will now be able to apply for $40 – $70 million dollars in implementation funding. There were 198 applications in total.
This designation is part of the first phase of the novel Tech Hubs program, authorized by the CHIPS and Science Act, that will invest directly in high-potential U.S. regions and aim to transform them into globally competitive innovation centers. Designation is an endorsement of the region’s strategy to supercharge their respective technological industry to create jobs and strengthen U.S. economic and national security.
Designated Tech Hubs are now eligible to apply for the next phase of the Tech Hubs Program that will invest between $50-$75 million in each of 5-10 designated hubs.
“Designation as an EDA Tech Hub is a transformative win for the Richmond-Petersburg Region – and the country – one that will change the landscape of opportunity for the communities we serve by developing and manufacturing affordable, accessible medicines in our region,” said Joy Polefrone, PhD, executive director of the Alliance for Building Better Medicine. “This win reinforces the audacious vision of the alliance members to become the global hub to transform the manufacturing of medicines in the coming decade while ensuring historically distressed communities have opportunities to thrive through careers in an impactful, rapidly growing industry.”
The Advanced Pharmaceutical Manufacturing Consortia is supported by partners including institutions of higher learning, local government, private industry and nonprofits within the Commonwealth.
“The CHIPS and Science Act continues to deliver significant wins for Virginia, supporting the creation of an Advanced Pharmaceutical Manufacturing Tech Hub in the Richmond-Petersburg region,” said Virginia Senator Mark R. Warner. “I was proud to support this project, which will help make the Richmond-Petersburg region a critical hub for the manufacturing of advanced pharmaceuticals. Today’s announcement will help boost the American pharmaceutical industry while creating 21st century jobs for Virginians.”
Virginia Sen. Tim Kaine said manufacturing critical medicines, including insulin, in the United States is good for the stability of supply chains.
“I worked to secure funding from the American Rescue Plan for the project and pushed to make this competitive Tech Hub designation possible,” said Kaine. “I’ll keep working to advance this critical economic development project for Central Virginia.”
Congresswoman Jennifer McClellan (D-VA-04) also congratulated the consortia on the designation.
“This recognition is a testament to the commitment and dedication of the consortium members and the incredible innovation taking place in the Fourth District of Virginia,” said McClellan. “I was proud to advocate for additional federal funding for CCAM and APM from the Department of Commerce, and I am confident this new designation will further strengthen this cluster and position it as a global hub for pharmaceutical manufacturing.”
For a full list of Tech Hubs, visit TechHubs.gov.