WASHINGTON, Oct 19 (Reuters) – U.S. Treasury Secretary Janet Yellen is preparing to resume campaign-style promotion of President Joe Biden’s economic initiatives on Friday, visiting a Virginia business incubator to promote U.S. investments in research, semiconductors, clean energy and energy. other techniques.
The Treasury said Yellen will deliver notes and meet with entrepreneurs at the Virginia Foundation for Innovative Partnership (VIPC) in Herndon, Virginia, a thriving Washington suburb near Dulles International Airport.
Yellen made a series of other campaign-style speeches in the run-up to the November 8 congressional elections, promoting legislation passed over the past year, including a $1.2 trillion infrastructure investment package, the Chips and Science Act, which introduces subsidies To semiconductor production and research, the so-called inflation-reduction law, which includes major tax incentives for clean energy investments.
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Last month, Yellen gave similar speeches promoting infrastructure and electric vehicle investments in Detroit and visited a solar developer in North Carolina. Her Herndon remarks will focus on technology, research and innovation, which the Treasury said “creates well-paying jobs, enhances US competitiveness and accelerates the transition to clean energy” and spreads economic benefits to previously overlooked cities.
She will be joined by Senator Tim Kaine and Representative Jerry Connolly, both fellow Democrats, and will host a roundtable with local entrepreneurs and academics focused on semiconductors, advanced manufacturing and other technologies, the Treasury said.
VIPC is a Commonwealth of Virginia, publicly funded, nonprofit group for seed stage commercial marketing and economic development that drives financing, infrastructure and policy initiatives to support entrepreneurs and start-ups.
Among her recent projects are a partnership with Leesburg, a Virginia-based quantum computing company (QUBT.O) to develop optimal flight paths for drones and a Richmond-based investment by Evizia, a life sciences startup that is building a tool to help researchers visualize human genes.
VIPC’s Herndon facility is located in Dulles Technology Corridor, once known as the home of America Online’s leading Internet telephony company, employing thousands of workers before AOL’s fortunes faded in the early 2000s.
The region is now known for its diverse mix of other software, defense, and technology companies, including cloud computing software company Appian Corp (APPN.O) and cybersecurity firm Mandiant Inc. The Dulles line is called the Innovation Center.
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(Reporting by David Lauder) Editing by Chizu Nomiyama
Our Standards: Thomson Reuters Trust Principles.
Originally published at San Jose News Bulletin
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