The U.S. Department of Commerce will use $50 billion from the CHIPS Act of 2022 on a strategy to resurrect the domestic semiconductor industry.
The National Institute of Standards and Technology will use the CHIPS for America program to generate high-paying jobs in local communities in the United States as it promotes innovation, according to a Commerce Department news release issued Sept. 6.
“Rebuilding America’s leadership in the semiconductor industry is a down payment on our future as a global leader,” Secretary of Commerce Gina Raimondo said in the release. "CHIPS for America, will ensure continued U.S. leadership in the industries that underpin our national security and economic competitiveness. Under President Biden’s leadership, we are once again making things in America, revitalizing our manufacturing industry after decades of disinvestment and making the investments we need to lead the world in technology and innovation.”
Three initiatives are part of the program: large scale investments in leading edge manufacturing; new manufacturing capacity for mature and current-generation chips, new and specialty technologies and for semiconductor industry suppliers; and initiatives to strengthen U.S. leadership in research and development, according to the release.
The CHIPS for American program will have detailed application instructions available by early February 2023 in its funding documents, according to the release. Awards and loans will be distributed on a rolling basis when the applications can be handled, assessed and negotiated.
