Today, the global tech trade association ITI expressed approval of the final rules released by the U.S. Department of the Treasury and the Internal Revenue Service (IRS) for the Advanced Manufacturing Investment Credit (AMIC). This credit is part of the Biden Administration’s CHIPS and Science Act, aiming to attract an estimated $24 billion investment in semiconductor manufacturing and equipment within the United States.

"Today’s rule is a critical investment in restoring U.S. semiconductor leadership," stated Jason Oxman, ITI President and CEO. He emphasized that "as other markets vie to develop cutting-edge chip technology, this measure will encourage companies to build more chips manufacturing facilities and equipment on U.S. soil." Oxman added that it represents "an essential part of realizing the vision of the CHIPS and Science Act and bolstering a world-class and robust semiconductor ecosystem."

ITI has been actively supporting AMIC, which offers a 25% investment tax credit for qualified investments in facilities manufacturing semiconductors or related equipment. To be eligible for this tax credit, facility construction must commence before December 31, 2026. ITI plans to continue its efforts to apply AMIC to polysilicon production and aims to extend these credits further into design and research areas.