University Centers for Growth, Development, and Prosperity Act of 2023

The University Centers for Growth, Development, and Prosperity Act of 2023 establishes a federal program to fund university centers at eligible institutions of higher education across every U.S. state. These centers will provide technical assistance, business development support, and technology transfer services to help communities and businesses create jobs, build regional talent pools, and expand innovation clusters. The law requires the Secretary of Commerce to prioritize historically Black colleges, Tribal colleges, Hispanic-Serving institutions, and other minority-serving colleges when selecting centers, with each center receiving $500,000-$1,000,000 annually. Centers must collaborate with economic development organizations and conduct research to inform local economic strategies, directly supporting regional economic growth.