June 20, 2024

Tech Industry Cheers as CHIPS Act Boosts Intel Initiatives

The Semiconductor Industry Association (SIA) today released the following statement from SIA President and CEO John Neuffer commending semiconductor manufacturing incentives announced by the U.S. Department of Commerce and Intel Corporation. The incentives, which are part of the CHIPS and Science Act, will support four Intel manufacturing projects in Arizona, Ohio, Oregon, and New Mexico. The Commerce Department previously announced incentives for GlobalFoundries, Microchip Technology, and BAE Systems.

“The CHIPS and Science Act incentives announced today will create jobs, boost U.S. and local economies, and make America stronger, safer, and more technologically advanced. CHIPS was enacted to incentivize companies in the semiconductor ecosystem to build, grow, hire, and innovate in the U.S., and that’s exactly what they’re doing. We congratulate Intel for investing boldly in these projects and applaud the Commerce Department for working diligently to advance the CHIPS Act’s manufacturing incentives and R&D investments. SIA looks forward to continuing to work with leaders in Washington to ensure this historic initiative is implemented successfully and expeditiously, which will help strengthen U.S. chip production, innovation, and supply chain resilience well into the future.”

The CHIPS Act’s manufacturing incentives have already sparked substantial investments in the U.S. In fact, companies in the semiconductor ecosystem have announced dozens of new projects across 25 U.S. states—totaling more than $250 billion in private investments—since the CHIPS Act was introduced. These announced projects will create more than 45,000 jobs in the semiconductor ecosystem and support hundreds of thousands of additional U.S. jobs throughout the U.S. economy.

Source: https://www.semiconductors.org/