MADISON (WKOW) — A new Tech Hub designation for Wisconsin will help the state continue its development with the help of federal money.

Wisconsin was designated Economic Development Administration Regional Technology and Innovations Hub (Tech Hub) Phase 1. Only 30 other regions in the country received the same honor.

This designation allows Wisconsin to compete for up to $75 million of U.S. Economic Development Administration (EDA) funds which it can use to foster further development.

Wisconsin is also getting one of 29 $350,000 strategic development grant from the EDA to realize its vision as a tech hub, according to a release from BioForward Wisconsin.

“Wisconsin’s designation as a Regional Tech Hub is a testament to the strength of our state’s biohealth and personalized medicine industry,” said Gov. Tony Evers. “As this sector continues to grow, it will mean more high-paying jobs and economic growth for our state, as well as innovations that will transform the future of medical care for people in Wisconsin and around the world.”

U.S. Sen. Tammy Baldwin added in a statement that she’s “thrilled” the Biden admiration is recognizing “what we knew all along: Wisconsin is the perfect place for a Tech Hub.”

“We have cutting-edge businesses, a second-to-none workforce, and a robust manufacturing economy, positioning us perfectly to be at the center of innovation,” Baldwin said.