BALTIMORE SELECTED AS FEDERAL TECH HUB

The Baltimore Sun reports, “Baltimore selected as federal tech hub for artificial intelligence and biotechnology.”

Let’s see how this impacts the Baltimore market:

• The Baltimore region including seven surrounding counties was awarded a federal designation as a national tech hub, which could generate hundreds of millions of dollars of investment and create tens of thousands of jobs. The region is one of 31 cities participating in the Tech Hubs Program.
• The Baltimore region was natural for this designation as it is home to more than 400 tech start-ups affiliated with federal and academic research and development institutions. In addition, the region has a history of commercialization in medical diagnostics, healthcare analytics, medical devices, and gene and drug therapeutics.
• This designation is expected to generate $4.2 billion in economic impact and 52,000 jobs by 2030. The regional hub plans to focus on artificial intelligence and biotechnology, a combination still in the early stages of adoption. It will research the use of artificial intelligence and machine learning on health data for applications such as diagnostics and drug development.

Read the full article here.