US President Joe Biden is injecting additional funds to 18 more states for "research and technology advances" ahead of the 2024 Presidential Elections.
The newest addition to the Biden administration's "Investing in America" initiative included several battleground and Republican states.
These states are set to receive a total of $150 million in federal investments in addition to another $350 million in contributions from private partners.
Recipient states include swing regions like Arizona, Nevada, North Carolina, and Wisconsin.
Several states that announced support for Biden's top contender, former President Donald Trump, like Florida, Louisiana, North Dakota, Ohio, South Carolina, Tennessee, Texas, Utah, and Wyoming will also receive substantial funding.
Democrat states where Biden has secured votes, such as Colorado, Illinois, New Mexico, New York, and Virginia, will also receive support from the program.
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Biden Bolsters 'Innovation Engines' for Semiconductor Industry
Select states are set to also receive an additional $2 billion budget from the 2022 CHIPS and Science Act to revitalize the semiconductor manufacturing industry.
Biden earlier announced to roll out $52 billion in subsidies to support semiconductor and research facilities across the US.
The initiative will be under the National Science Foundation to set up "innovation engines" for "regions that were left out of the recent decades' technology boom."
The programs are expected to produce at least 40,000 jobs and restore the country's status as one of the leading semiconductor industries in the world.
The US currently contributes only 10% of the global chip supply.
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The sweeping pledges to the tech industry under the Biden administration can be seen as the current government's efforts to bolster its chances against its biggest election competitor.
Trump touted his accomplishments on his economic war against China and his so-called "tax legacy" as the highlights of his administration.
Biden has been lagging behind Trump in the last surveys conducted by the New York Times after receiving broad disapproval across several presidential policies.
