Wisconsin’s biohealth tech hub will receive $49 million in funding from the U.S. Department of Commerce’s Economic Development Administration.

Last October, Wisconsin became one of 31 regions in the United States to be designated as a Regional Technology and Innovations Hub, focused on the biohealth industry.

This designation is part of the national Tech Hubs program, an economic development initiative designed to spur regional innovation and job creation by strengthening a region’s capacity to manufacture, commercialize and deploy technology.

As part of phase one of the Tech Hubs program, Wisconsin earned a $350,000 grant last fall that was used for further strategic development. The $49 million grant is the second and final phase of funding. Wisconsin is now one of 12 federally recognized tech hubs across the country that received a second phase of funding. Wisconsin’s tech hub was also awarded a $7.5 million supporting grant from the state in February.

Read more at the BizTimes.