Yellen touts Biden’s tech investment in Virginia business incubator

WASHINGTON, Oct 19 (Reuters) – U.S. Treasury Secretary Janet Yellen is set to resume her campaign to promote President Joe Biden’s economic initiatives on Friday, visiting a state in Virginia. A business incubator promoting U.S. research, semiconductors, clean energy and other technologies.

Yellen will speak and meet entrepreneurs at Virginia Innovation Partners (VIPC) in Herndon, Virginia, a Washington suburb near Dulles International Airport, the Treasury Department said.

Yellen delivered a string of other campaign-style speeches ahead of Nov. 11. Eight congressional elections, touting legislation passed in the past year, including a $1.2 trillion infrastructure investment plan, the Chip and Science Act, which subsidizes semiconductor production and research, and the so-called Reducing Inflation Act, which includes Invest in clean energy.

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Last month, Yellen made a similar speech about all of Detroit’s infrastructure and electric vehicle investments, and visited a solar developer in North Carolina. Her remarks in Herndon will focus on technology, research and innovation, which the Treasury Department says are “creating high-paying jobs, improving American competitiveness and accelerating the transition to clean energy” and spreading economic benefits to previously overlooked City.

The Treasury Department said Yellen will join fellow Democrats Sen. Tim Kaine and Rep. Gerry Connolly in a roundtable with local entrepreneurs and academics focused on semiconductors, advanced manufacturing and other technologies Meeting.

VIPC is a nonprofit, publicly funded commercialization and seed-stage economic development organization in the Commonwealth of Virginia that leads funding, infrastructure and policy initiatives to support entrepreneurs and startups.

Its most recent projects include a partnership with Leesburg, Va.-based Quantum Computing (QUBT.O) to develop optimal flight trajectories for drones, and an investment in Richmond-based Evizia, a life sciences startup that aims to help Researchers visualize the human genome.

VIPC’s Herndon facility is located in the Dulles Technology Corridor, once famous as the home of dial-up internet pioneer AOL, which employed thousands of workers before AOL’s fortunes faded in the early 2000s.

The region is now known for its diverse portfolio of software, defense and other technology companies, including cloud computing software company Appian Corp (APPN.O) and cybersecurity firm Mandiant Inc. The Washington Metro Transit System is about to open a site near its Dulles Line called the Innovation Center.

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Reporting by David Lauder; Editing by Chizu Nomiyama

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