The passing of the CHIPS and Science Act in 2022 marked a pivotal moment in America's journey toward reclaiming its position as a global leader in innovation.
2024 Marks Two Years of the CHIPS and Science Act
For communities across the country, this legislation offers an unprecedented opportunity to build vibrant, sustainable innovation ecosystems that drive economic growth and resilience.
The CHIPS and Science Act, passed with bipartisan support, embodies a renewed commitment to reclaiming America’s role as a global innovation powerhouse. But what does this mean for communities spread across the country? It means there's an unprecedented chance to cultivate thriving, sustainable innovation ecosystems with the potential to ignite economic growth, enhance resilience, and breathe new life into many regions that have long awaited a spark.
Whether you’re in community leadership, government, higher education, an entrepreneur, or simply someone who cares about the future of American innovation, understanding the implications of the CHIPS and Science Act can help you reshape the fabric of our economy and society. We’re looking back on the CHIPS and Science Act to review its effects in 2024 and what it means for stakeholders looking to revitalize their communities.
The Promise of the CHIPS and Science Act
The CHIPS and Science Act established the Directorate for Technology, Innovation, and Partnerships (TIP) within the U.S. National Science Foundation (NSF), with a mission to foster innovation and ensure the U.S. remains competitive on the global stage. Through TIP, federal resources are now being directed toward the creation of diverse regional innovation ecosystems, with a strong focus on leveraging local assets and talents to build a new industrial base for America.
This policy shift was a deliberate effort to decentralize innovation and bring it into the hands of communities across the U.S. Its goal is to empower local ecosystems to drive the next wave of American industry.
Consider the progress that’s been made with the passing and execution of the CHIPS and Science Act since 2024:
View all of TIP’s investments across the country since 2022 at their pilot portal (including detailed map and award data).
The TIP has released an investment roadmap with details on the key technology areas for planned investments.
In the last year alone, TIP created four new, technology-centric solicitations.
For community leaders, this represents an extraordinary opportunity to engage with these federal initiatives, secure funding, and build the infrastructure necessary to support innovation in their own backyards. The Act opens doors for mid-market cities to attract investment, develop mixed-use innovation spaces, and build the talent pipelines needed for long-term success.
The framework and resources are there, but the execution depends on how effectively communities can align these opportunities with their unique strengths and ambitions. This is where strategic vision and leadership plays an integral role.
How Choosing a Strategic Partner Can Help Your Community Thrive
Embracing innovation and technology to build a stronger community requires discipline, effort, and expertise. And while you may be an expert at what you do, navigating business and government relationships may not be your strong suit.
That’s why you’ll want a partner alongside you to guide you. Not a consultant that hands you a report – an experienced, hands-on partner with a record of helping communities transform these kinds of opportunities into reality.
At Waymaker Group, we understand that while the CHIPS and Science Act provides the framework, the real work begins at the local level. Our approach is rooted in deep collaboration with local stakeholders – governments, corporates, nonprofits, and higher education institutions – ensuring that every project we undertake is not only viable but also aligned with federal funding policies and local connections.
Our team of nationally recognized experts specializes in helping cities define their technology specialties, develop comprehensive funding strategies, and attract anchor tenants to build thriving innovation ecosystems.
We know that innovation doesn't happen in a vacuum. It requires a supportive environment where ideas can be nurtured and brought to market efficiently.
The Path Forward
Communities that act now to align with the opportunities presented by the CHIPS and Science Act will be the ones leading the charge into the future. To fully capitalize on this potential, local leaders need more than simple awareness. Success here demands the right expertise, connections, strategic vision, and a commitment to seeing projects through to completion.
Waymaker Group is here to ensure your community doesn't miss out. Whether you're just beginning to explore your options or are ready to move forward, we have the experience and resources to help you navigate the complexities of innovation-based economic development.
Let’s build the future together. For more insights on how we can help your community embrace innovation, set up a consultation with us today.
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