The U.S. Department of Commerce has announced that in its first year, the CHIPS and Science Act has generated 460 statements of interest from semiconductor manufacturers across the country. The law was designed to help revitalize the domestic semiconductor industry, and it allocates $39 billion for manufacturing incentives and $11 billion for research and development programs. In the future, new funding opportunities will be available for smaller semiconductor manufacturing plants with capital investments below $300 million. There will also be additional funding for research and development facilities.
In a recent quote, Secretary of Commerce Gina Raimondo said, “The CHIPS for America program is a historic opportunity to solidify America’s leadership and protect national security. Our work will boost semiconductor manufacturing, strengthen supply chains, and unleash the next generation of innovation. We’ve come a long way in the first year, but there’s exciting work still to be done. Under the President’s leadership, and through the CHIPS for America program, we’re ensuring that America secures its role as a technological superpower for decades to come.”
President Joe Biden added, “In the year since I signed this legislation into law, companies have announced over $166 billion to bring semiconductor manufacturing back to the United States. These investments are creating jobs and opportunities in communities across the country – from Ohio to Arizona, Texas and New York. And, in the last year alone, at least 50 community colleges have announced new or expanded programs to help American workers access good-paying jobs in the semiconductor industry.”
