Greater Baltimore Region Designated as Federal Tech Hub

FOR IMMEDIATE RELEASE: October 23, 2023 MEDIA CONTACT: Amy Burke Friedman, PROFILES 410-243-3790 / afriedman@profilespr.com

GREATER BALTIMORE REGION DESIGNATED AS FEDERAL TECH HUB AS PART OF LANDMARK U.S. ECONOMIC DEVELOPMENT ADMINSTRATION PROGRAM TO POSITION CENTERS OF INNOVATION AS GLOBALLY COMPETITIVE IN EMERGING INDUSTRIES Designation provides the Greater Baltimore Region with access to a share of $10 billion to catalyze funding in technologies focused on the intersection of artificial intelligence and biotechnology (Bal�more, Md.) – Today, the Biden-Harris administra�on declared that the Greater Bal�more Region (MSA) has officially been designated as a federal Tech Hub through a landmark Economic Development Administra�on program designed to make regions across the United States globally compe��ve in emerging technologies. The coordinated, five-month applica�on bid organized by the Greater Bal�more Commitee convened area tech firms, academic ins�tu�ons, state and local government en��es, economic development organiza�ons, and workforce development partners around iden�fying tech related projects that could benefit from valuable funding by the federal government.

The EDA will name 31 tech hubs from nearly 400 Tech Hubs applications and just under 200 consortia designation requests. The Baltimore Region is well-positioned for access to a share of $10 billion in stimulating investment in the regional bid’s area of focus: artificial intelligence and biotechnology.

“This momentous designa�on marks a pivotal step in our region's journey towards technological leadership and shared prosperity. The Greater Bal�more Commitee's pursuit of the Tech Hub status demonstrates our collec�ve belief in the poten�al of predic�ve health technologies to revolu�onize our industries and elevate our en�re community. Our region's strength in healthcare and life sciences, combined with our ongoing collabora�on with the burgeoning tech ecosystem, underscores our shared commitment to innova�on. By harnessing the power of data science and biotechnology, we stand poised to become pioneers in predic�ve health, with posi�ve impacts on individual pa�ent well-being and community health. The possibili�es for our region are limitless, and this Tech Hub designa�on is the catalyst that will propel us into a future where innova�on and well-being converge," said Mohan Suntha, MD, MBA, President and Chief Execu�ve Officer of the University of Maryland Medical System (UMMS) and Chair of the GBC Board of Directors.

“Being at the forefront of tech innovation and taking part in programs like the Biden Administration’s first of its kind Tech Hub is intrinsically invaluable to making this Maryland’s decade,” said Governor Wes Moore. “The support that this investment will bring to the greater Baltimore region - now nationally recognized as an area of high potential - will help grow a more equitable economy that will expand opportunity, lead to better outcomes for our residents and make us an internationally leading innovation hub. I applaud the broad coalition of businesses and organizations that put this proposal together to help build a Maryland that will leave no one behind.”

“This designa�on will catalyze a transforma�ve era of growth, innova�on, and equitable economic opportunity for our region. While compe��ve, this program was designed to support regions like ours; collabora�ve communi�es with the poten�al to propel to the forefront of the tech revolu�on,” said Mark Anthony Thomas, President and CEO of the GBC, who is scheduled to appear at the White House as part of the announcement of designees at 2:00 p.m. today. “This is a first milestone for what will be GBC’s strategic focus on crea�ng a regional economic environment that is posi�oned to win.”

"Today's decision by the Biden Administra�on and the U.S. Economic Development Administra�on to designate Bal�more as a Regional Innova�on and Technology Hub or 'Tech Hub' is a clear valida�on of our city's unwavering commitment to innova�on, adaptability, and the excep�onal pool of talent that resides in Bal�more and Maryland," said Senate President Bill Ferguson. This designa�on marks a significant milestone in our quest to revolu�onize healthcare through the applica�on of ar�ficial intelligence to biotechnologies. With this award, we are poised to propel technological advancements, generate employment opportuni�es, and cul�vate economic prosperity within our community. I deeply appreciate the leadship at the Greater Bal�more Commitee and all of the coali�on partners for demonstra�ng how our region can work together to meet our poten�al."

“For years, the City of Bal�more and the en�re region have been nurturing a growing tech industry and welcoming Bal�moreans from all walks of life to help shape the future of tech right here in Charm City,” said Mayor Brandon M. Scot. “By officially designa�ng our region as a tech hub, the Biden Administra�on is going to accelerate all the great work already happening, fuel a new wave of innova�on, and help atract a new wave of talented residents. Our city is excited about the opportuni�es to create more jobs, con�nue transforming our region’s economy, and help make the tech revolu�on an equitable one.”

“This is a game-changer for the en�re Bal�more region. We thank the Biden Administra�on for recognizing our region’s poten�al as a global leader in bold and emerging fields like biotechnology and ar�ficial intelligence,” said Bal�more County Execu�ve Johnny Olszewski. “I am confident that this designa�on will help provide the support, resources, and opportuni�es we need to create jobs, grow communi�es, and transform the en�re Bal�more region into an innova�ve hub that create the tools of tomorrow.”

With this designa�on, GBC and consor�um members will move to the second phase of this program, where they outline how they would opera�onalize the various projects collected in the Bal�more MSA bid. In Phase 2, Designated Tech Hubs will compete for funding for Implementa�on projects to help propel the region into a self-sustaining, globally compe��ve Tech Hub. This groundbreaking achievement was made possible by a unified and coordinated effort supported by dozens of businesses and organiza�ons throughout the Greater Bal�more Region. In shaping the bid, 170 leters of support were provided by AI& Biotech industry partners, Governor Moore, and the Maryland elected delega�on. The bid included the private sector, higher educa�on, economic development, and workforce development, all coming together to posi�on the region as a hub for technological innova�on.

The consor�um members included: 1. Morgan State University (HBCU) 2. Coppin State University (HBCU) 3. Johns Hopkins University 4. Loyola University Maryland 5. UMMS

6. UMB 7. UMBC 8. Towson University 9. Maryland Department of Commerce 10. TEDCO

26. Bal�more County Economic Development 27. Howard County Economic Development 28. Anne Arundel County Economic Development 29. Harford County Economic Development 30. Carroll County Economic Development 31. Queen Anne’s County Economic Development 32. Cecil County Economic Development 33. Catalyte 34. Npower 35. Digital Harbor Founda�on 36. Abell Founda�on 37. Last Mile Educa�on Fund 38. World Trade Center Ins�tute

11. Bal�more Metropolitan Council 12. City of Bal�more 13. Upsurge Bal�more 14. Fearless 15. Conscious Ventures Partners 16. Blackbird Labs 17. Early Charm Ventures 18. Mindgrub 19. CareFirst BlueCross BlueShield of Maryland 20. Evergreen Advisors 21. Fulton Bank 22. Bio Buzz 23. LaunchPort 24. Greater Bal�more Commitee 25. Bal�more Development Corpora�on

The submitted bid was organized around two core focus areas: artificial intelligence and biotechnology, guided by the insight that the Region can lead in predictive health technologies, a tech subset that has the potential to improve health outcomes individually and systemically. Given the opportunity and funding, a designation has the potential to stimulate large-scale job creation, wealth creation, and mitigate health disparities in the region. The predictive technologies market is expected to be $70 billion globally by 2030, and GBC estimates that the total market opportunity for the Baltimore-focused portion could be $4.2 billion by 2030. The growth of this technology in the Baltimore MSA is estimated to create 52,000 jobs during that same time period.

"This momentous achievement stands as a testament to the remarkable power of collabora�on, where diverse sectors have united to forge a path towards enduring economic transforma�on," said Pothik Chaterjee, Chief Economic Officer for the GBC. “Many businesses and organiza�ons across the region are already making impressive strides in the tech arena. With this designa�on, we find ourselves on the verge of an exci�ng future that benefits the Greater Bal�more Region – its businesses, economy, livelihood – in many ways.”

ABOUT GREATER BALTIMORE COMMITTEE: The Greater Bal�more Commitee (GBC) is the leading voice for the private sector in the Bal�more region, providing insigh�ul economic and civic leadership to drive collec�ve impact. Composed of more than 500 organiza�ons, including large, mid-size, and small companies, nonprofits, founda�ons, and educa�onal and healthcare ins�tu�ons, the GBC is dedicated to fostering the prosperity of the Greater Bal�more region. For more informa�on, visit gbc.org. ###

ADDITIONAL QUOTES:

“Designa�ng the Bal�more region as a federal tech hub is a powerful endorsement of the major assets in our city and surrounding areas to promote innova�on, economic compe��veness, and long-term prosperity for everyone. Morgan State is the only public, comprehensive high research university in the city of Bal�more. We already have several new research centers that are producing cu�ng-edge

research and technological innova�ons and solu�ons to address many of our vexing challenges," said David K. Wilson, president of Morgan State University. "We are thrilled to be a major partner in this effort, bringing to the table our impressive exper�se in engineering, equitable ar�ficial intelligence and machine learning systems, and microelectronics, to name a few. It’s �me for Bal�more to lead the na�on in innova�on, startups, high wages, and high-growth industries, and Morgan is ready to roll up its sleeves to help make that happen. This is a great day for Bal�more!”