Two years ago today, President Biden signed the bipartisan CHIPS and Science Act into law, investing nearly $53 billion to bring semiconductor supply chains back to the U.S., create jobs, support American innovation, and protect national security.
To date, the Commerce Department has announced over $30 billion in proposed CHIPS private sector investments spanning 23 projects in 15 states. These projects include 16 new semiconductor manufacturing facilities and are expected to create over 115,000 manufacturing and construction jobs across the country. The Commerce Department is on track to allocate all remaining funds with CHIPS grantees by the end of 2024.
“As a result of the CHIPS and Science Act, we’ve made huge strides over the past two years in implementing the program and amassing private sector interest and enthusiasm,” said Commerce Secretary Gina Raimondo. “Under the leadership of President Biden and Vice President Harris, we’re creating good-paying jobs and bringing semiconductor manufacturing back to the United States.”
With these CHIPS investments, America will be home to all five of the world’s leading-edge logic and DRAM semiconductor manufacturers. No other economy in the world has more than two. As a result, the U.S. is expected to manufacture nearly 30 percent of the world’s leading-edge chips by 2032 – up from zero percent when President Biden and Vice President Harris took office.
CHIPS—or semiconductors—power many aspects of life in America including smartphones, new cars, and medical devices. They are essential building blocks for technologies that will shape our future such as artificial intelligence, biotechnology, and clean energy.
Through the President’s Investing in America Agenda, the Biden-Harris Administration aims to build an economy that brings innovation and opportunity to all hardworking American families.
For more information on achievements over the past two years by the Commerce Department and other Federal agencies, see today’s White House fact sheet.
Also available is the CHIPS for America two-year progress report: https://lnkd.in/eJUdHsAG.
Visit CHIPS.gov to learn more about CHIPS for America.
___
