The U.S. Economic Development Administration (EDA) Tuesday announced $49 million in Phase 2 funding to the Wisconsin Biohealth Tech Hub, a groundbreaking initiative set to drive transformative medical innovation, workforce development and critical job growth across Wisconsin.

The University of Wisconsin–Madison, one of 18 members of the Biohealth Tech Hub consortium, was a key partner in the effort. Selected from a highly competitive pool of applicants, the designation showcased an unprecedented scale of collaboration between industry, higher education, government and other stakeholders.

The effect on the state is expected to be significant. Consortium members estimate that Phase 2 initiatives will directly create up to 30,000 new jobs, with an additional 111,000 indirect jobs.

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