The text of the bill [^1] disagrees with this:

> In awarding financial assistance for planning or establishing a Manufacturing USA Institute, an agency shall give special consideration to such institutes that

> contribute to the geographic diversity of the Manufacturing USA program,

> are located in an area with a low per capita income,

> are located in an area with a high proportion of socially disadvantaged residents, or

> are located in small and rural communities.

It seems very much to be both.

[^1]: https://www.congress.gov/bill/117th-congress/house-bill/4346