The U.S. Department of Commerce’s Economic Development Administration (EDA) announced a number of grants last week to aid regional innovation and entrepreneurship efforts through infrastructure improvements, the creation of new spaces, and business improvements in regions across the country. The grants fund projects in AR, AZ, CA, ME, MI, and OH.

The Department of Defense is seeking comments and information on President Biden’s Executive Order, “America’s Supply Chains,” which directs several federal agency actions to secure and strengthen the country’s supply chains. The U.S. Department of Commerce is also seeking public input on a licensing or other pre-clearance process for entities engaging in certain information and communications technology and services transactions (ICTS Transactions).

The May jobs report that was released last Friday contained better news than the disappointing numbers from April, with May figures showing 559,000 jobs added and unemployment declining by 0.3 percentage point to 5.8 percent. But the jobs picture remains complicated.

The U.S. Department of Commerce’s Economic Development Administration (EDA) announced the designation of 31 Tech Hubs in regions across the country and 29 Strategy Development Grants. This announcement marks the first phase of the new Tech Hubs program, an economic development initiative authorized in the CHIPS and Science Act and designed to drive regional innovation and job creation by strengthening a region’s capacity to manufacture, commercialize, and deploy technology that will advance American competitiveness.

The U.S. Department of Commerce has recently signed two non-binding preliminary memorandums of terms (PMTs) with semiconductor companies to provide direct funding under the CHIPS and Science Act. One company, the TSMC Arizona Corporation (TSMC Arizona), a subsidiary of Taiwan Semiconductor Manufacturing Company Limited (TSMC), will receive up to $6.6 billion to support the company’s investment of more than $65 billion in three greenfield fabs in Phoenix, Arizona.

The Biden Administration issued an executive order earlier this week that provides guidance on the safe, secure, and trustworthy development and use of Artificial Intelligence (AI) in the U.S. The EO includes guidance for agencies to work to provide new opportunities for small businesses and entrepreneurs in AI and other directives.

President Trump’s nominee to become Secretary of Commerce, Howard Lutnick, cleared the Senate Committee on Commerce, Science and Transportation on Feb. 4 by a vote of 16 to 12. A floor vote is expected soon, possibly still this week. Among the agencies within the Commerce Department are two agencies that support core elements of regional innovation and technology-based economic development more broadly.

The Senate confirmed Howard Lutnick as the Secretary for the Department of Commerce on Tuesday, Feb. 18, by a vote of 51-45. Trade talks and tariff negotiations are expected to be top priorities for the secretary as the agency is expected to undergo several structural changes during the coming months.