President Joe Biden recently announced that the Illinois Fermentation and Agriculture Biomanufacturing Hub, known as iFAB, is among the 31 designated Regional Innovation and Technology Hubs by the U.S. Economic Development Administration (EDA). This recognition positions central Illinois as a global leader in biomanufacturing Innovation and job creation.
iFAB, led by the Integrated Bioprocessing Research Laboratory at the University of Illinois Urbana-Champaign, comprises 30 partner organizations from various sectors, including academia, industry, government, and nonprofits. The consortium’s mission is to catalyze industry growth in Champaign, Piatt, and Macon counties.
The EDA Tech Hubs program, established through the bipartisan CHIPS and Science Act of 2022, aims to boost economic growth, create jobs, and enhance national security. The precision fermentation industry, a key focus of iFAB, is expected to reach $11.8 billion by 2028 and generate one million jobs by 2030.
Overall, iFAB’s designation as a Tech Hub underscores Central IIlinois’ emergence as a global economic leader in biomanufacturing and innovation, with potential to drive economic growth and make a lasting impact on the region.