Greater Baltimore Region Designated as Federal Tech Hub

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 Watch video of GBC President & CEO Mark Anthony Thomas introducing President Biden for the federal Tech Hub designation announcement (Baltimore, Md.) – Monday, the Biden-Harris administration declared that the Greater Baltimore Region (MSA) has officially been designated as a federal Tech Hub through a landmark Economic Development Administration program designed to make regions across the United States globally competitive in emerging technologies. The coordinated, five-month application bid organized by the Greater Baltimore Committee convened area tech firms, academic institutions, state and local government entities, economic development organizations, and workforce development partners around identifying 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 designation will catalyze a transformative era of growth, innovation, and equitable economic opportunity for our region. While competitive, this program was designed to support regions like ours; collaborative communities with the potential to propel to the forefront of the tech revolution,” 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 creating a regional economic environment that is positioned to win.”

“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 momentous designation marks a pivotal step in our region's journey towards technological leadership and shared prosperity. The Greater Baltimore Committee's

pursuit of the Tech Hub status demonstrates our collective belief in the potential of predictive health technologies to revolutionize our industries and elevate our entire community. Our region's strength in healthcare and life sciences, combined with our ongoing collaboration with the burgeoning tech ecosystem, underscores our shared commitment to innovation. By harnessing the power of data science and biotechnology, we stand poised to become pioneers in predictive health, with positive impacts on individual patient well-being and community health. The possibilities for our region are limitless, and this Tech Hub designation is the catalyst that will propel us into a future where innovation and well-being converge," said Mohan Suntha, MD, MBA, President and Chief Executive Officer of the University of Maryland Medical System (UMMS) and Chair of the GBC Board of Directors.

“For years, the City of Baltimore and the entire region have been nurturing a growing tech industry and welcoming Baltimoreans from all walks of life to help shape the future of tech right here in Charm City,” said Mayor Brandon M. Scott. “By officially designating our region as a tech hub, the Biden Administration is going to accelerate all the great work already happening, fuel a new wave of innovation, and help attract a new wave of talented residents. Our city is excited about the opportunities to create more jobs, continue transforming our region’s economy, and help make the tech revolution an equitable one.”

“This is a game-changer for the entire Baltimore region. We thank the Biden Administration for recognizing our region’s potential as a global leader in bold and emerging fields like biotechnology and artificial intelligence,” said Baltimore County Executive Johnny Olszewski. “I am confident that this designation will help provide the support, resources, and opportunities we need to create jobs, grow communities, and transform the entire Baltimore region into an innovative hub that create the tools of tomorrow.”

With this designation, GBC and consortium members will move to the second phase of this program, where they outline how they would operationalize the various projects collected in the Baltimore MSA bid. In Phase 2, Designated Tech Hubs will compete for funding for Implementation projects to help propel the region into a self-sustaining, globally competitive Tech Hub. This groundbreaking achievement was made possible by a unified and coordinated effort supported by dozens of businesses and organizations throughout the Greater Baltimore Region. In shaping the bid, 170 letters of support were provided by AI & Biotech industry partners, Governor Moore, and the Maryland elected delegation. The bid included the private sector, higher education, economic development, and workforce development, all coming together to position the region as a hub for technological innovation.

The consortium 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 11. Baltimore Metropolitan Council 12. City of Baltimore 13. Upsurge Baltimore 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 Baltimore Committee 25. Baltimore Development Corporation 26. Baltimore 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 Foundation 36. Abell Foundation 37. Last Mile Education Fund 38. World Trade Center Institute 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 collaboration, where diverse sectors have united to forge a path towards enduring economic transformation," said Pothik Chatterjee, Chief Economic Officer for the GBC. “Many businesses and organizations across the region are already making impressive strides in the tech arena. With this designation, we find ourselves on the verge of an exciting future that benefits the Greater Baltimore Region – its businesses, economy, livelihood – in many ways.”

ADDITIONAL STATEMENTS OF CONGRATULATIONS “We are incredibly proud that the Greater Baltimore region has been selected as one of 31 Tech Hubs in the U.S.,” said Maryland Commerce Secretary Kevin Anderson.

“We are committed to driving innovation in Maryland and this designation will help us continue thriving as a top biopharma cluster, while incorporating emerging industries like AI.” “For the last 10-years the Conscious Venture Lab and Conscious Venture Partners has been working with our local partners to make Baltimore a more just, joyous, equitable, sustainable, and profitable community for all who love this city. As such we couldn’t be more thrilled to hear that Baltimore has been designated as a federal tech hub. It is an amazing accomplishment for our region and, it will help to accelerate the change we’ve been championing for the last decade,” said Jeff Cherry, Managing Partner of Conscious Venture Partners, LLC. “We are very excited to play a role in this exciting chapter and we look forward to continuing the partnerships we’ve built on the path to making Baltimore a place where all founders are welcome and all founders are supported.”

“Baltimore Development Corporation (BDC) congratulates the Greater Baltimore Committee and their partners on a successful submission, resulting in Baltimore being designated as a Tech Hub by the U.S. Economic Development Administration. BDC was pleased to be a part of this effort,” said August J. Chiasera, Board Chairman, and Colin Tarbert, President & CEO, Baltimore Development Corporation.

“This achievement reflects our region's commitment to fostering innovation and economic growth. The designation will move us toward achieving Goal 3 of Baltimore Together (the city's Comprehensive Economic Development Strategy), which is to build a thriving innovation and small business ecosystem by increasing investment in startups

and small businesses. We are excited about the opportunities this designation brings for our community. BDC looks forward to working with the GBC and their partners on a compelling proposal for the program’s next phase, which offers significant implementation funding for specific projects.”

“On behalf of Fulton Bank, we want to congratulation the Tech Hub Consortium led by the GBC regarding the Baltimore Region’s selection for the federal tech hub designation,” said Joe Durham, President, DelMarVa Region, Fulton Bank.

“This is a tremendous recognition for the Greater Baltimore Region, and will create tremendous momentum for the region as we seek to catalyze the private, public and nonprofit sectors to work together to build the nation’s premier innovation ecosystem for precision medicine and predictive health care technologies.”

“Greater Baltimore’s designation as a federal tech hub is a game-changer for the region in our continued efforts to drive tech commercialization, create jobs, and scale companies. It’s easy to say you want to make a difference; it’s hard to take the action needed,” said Delali Dzirasa, Fearless CEO, and John Foster, Chief Impact Officer, Fearless. “At Fearless, our goal is to actually move the needle in the areas of efficient government, social justice, human life, and quality living. We believe that in order to harness the power of business for good, we have to align impact and profit. We are excited to play a critical role in the training of workers from underrepresented and nontraditional backgrounds and supporting entrepreneurs looking to build and scale tech companies in Baltimore. We look forward to sustaining this partnership within our consortium to bolster the Baltimore Region Tech Ecosystem and drive economic development through this transformative initiative.”

“Since our inception over 25 years ago, Brown Advisory has been proud not only to be in Baltimore but to be of Baltimore. We support clients, colleagues and local community advocates to catalyze growth in the city’s entrepreneurial community and beyond. We dedicate time, resources and capital to ensure that Baltimore is a go-to city of the future for innovation and transformation,” said Mike Hankin, CEO of Brown Advisory.

“We’re absolutely thrilled to learn that Baltimore will be designated a Tech Hub to complement the great work that is happening in our city!”

“Last Mile Education Fund is thrilled that Baltimore has been chosen as a Tech Hub and stands ready to support the workforce needs of the region. Last Mile recognizes the importance of investing in financially-vulnerable underrepresented students in tech pathways, so that they graduate and launch into their careers,” said Cristina Lopez, Chief of Strategy and Operations, Last Mile Education Fund. “Having invested in over 5,000 students in Baltimore and across the country, we look forward to making Baltimore’s Tech Hub a success as a consortium partner.”

“This designation isn’t just a huge win for the Baltimore region; it’s a powerful endorsement of the highly focused, highly collaborative work we’ve been doing for years. One of Baltimore’s greatest assets is its density of top-ranked colleges and universities—a dozen institutions with deep expertise in biotech, med-tech, genomics, AI, advanced analytics,” said Jay Perman, University System of Maryland Chancellor. “But if we’re going to make a real difference in personalized medicine and predictive health, we have to partner with industry and government; we have to marry our strengths and resources. That’s how we’ll move the needle on individual and community health, and how we’ll build an inclusive economy that works for everyone.

I’m proud the University System of Maryland has such a pivotal role to play, and I thank the System’s consortium members—UMB, UMBC, Coppin State University, Towson University—and our close partner, the University of Maryland Medical System, for their hard work.”

"The economic health of a region has a huge impact on the overall health of our communities," said Brian D. Pieninck, President and CEO of CareFirst BlueCross BlueShield (CareFirst) and Vice Chair of the GBC Board. “We must choose to invest in inclusive and equitable approaches to diversify Maryland's economy and drive meaningful and impactful solutions in support of the health of our communities.

Receiving this designation is an excellent example of collaborative partnerships' power to drive inclusive economic growth."

“Baltimore’s designation as a Federal Tech Hub is a big win for our city’s growing tech industry and the economy at large,” said John Racanelli, President & CEO, National Aquarium. “Here at the National Aquarium, where conservation science and STEAM education power our mission, we look forward to Baltimore’s next chapter as a national leader in the cutting-edge thinking that will ensure a better future for people, animals and the planet we all share.”

“This designation affirms our region’s commitment to innovation and will help further propel the immense growth that is transforming the greater Baltimore area into a thriving business and tech hub,” said Kristi Smith, President of the Maryland region for Howard Hughes. “We are looking forward to more opportunities to accelerate tech growth in Downtown Columbia and the Baltimore region in the years to come, and we congratulate the Committee and all the partners who have worked to make this initiative possible.”

“Mark Anthony Thomas’ exceptional leadership, and unwavering commitment to this vision have been essential in bringing us to this moment of celebration. His dedication to promoting collaboration between the public and private sectors, tireless advocacy for initiatives that support positive movement, and visionary leadership have been the driving forces behind this achievement,” said Chrissy M. Thornton, President & CEO, Associated Black Charities. “His ability to rally the community, inspire change, and mobilize resources is truly commendable and is a testament to the newness he has

brought to this role. This accomplishment should not go without acknowledging Mark being the right person, for the right job, at the right time.”

“Blackbird Labs – as the newest member of the Baltimore life sciences ecosystem – is thrilled to participate in the Tech Hubs initiative to drive growth in Baltimore by leveraging the exciting interface between AI and biotechnology,” said Matt Tremblay, PhD, CEO, Blackbird Laboratories.

“From our top-tier universities to our robust life sciences industry, the Baltimore region has a key role to play in advancing U.S. innovation and competitiveness. That’s why I strongly supported the Baltimore Consortium’s proposal to bring these assets together under a new Regional Tech Hub, and this is an important step toward making this vision a reality,” said Senator Chris Van Hollen. “This program — made possible through our passage of the Chips & Science Act — will further unlock the Baltimore region’s potential to help our nation lead in the technologies of the future, while creating more jobs and opportunity in our state.” ###

ABOUT GREATER BALTIMORE COMMITTEE: The Greater Baltimore Committee (GBC) is the leading voice for the private sector in the Baltimore region, providing insightful economic and civic leadership to drive collective impact. Composed of more than 500 organizations, including large, mid-size, and small companies, nonprofits, foundations, and educational and healthcare institutions, the GBC is dedicated to fostering the prosperity of the Greater Baltimore region. For more information, visit gbc.org.