Friday, December 20, 2024, 1:30 p.m.
By the Semiconductor Industry Association
WASHINGTON—December 20, 2024—The Semiconductor Industry Association (SIA) today applauds the final manufacturing investment decisions of the CHIPS and Science Act announced by the U.S. Department of Commerce and Texas Instruments (TI), SIA Chairman and Chief Executive Officer The following statement was released by CEO John Neufer: This incentive will support TI’s three new state-of-the-art semiconductor manufacturing facilities currently under construction in Texas and Utah.
“The significant CHIPS grants announced today will support Texas Instruments semiconductor manufacturing projects in Texas and Utah, creating thousands of jobs and strengthening America’s economy, competitiveness, and supply chain resiliency. Strengthen. TI’s projects will increase U.S. production of current-generation and mature node semiconductors that are critical to America’s economic strength. We applaud the finalization of these incentives to strengthen our industry and our nation. We congratulate TI on its commitment to significant domestic investment.”
The CHIPS Act is on track to strengthen U.S. manufacturing, create jobs, foster economic growth, and promote national security. CHIPS Act Manufacturing Incentives Announce Significant Investments in the U.S. In fact, since the introduction of the CHIPS Act, companies in the semiconductor ecosystem have announced 90 new projects in 28 U.S. states, exceeding the total amount of private investment. amounts to hundreds of billions of dollars. These announced projects will create more than 58,000 jobs in the semiconductor ecosystem and support hundreds of thousands of additional jobs across the U.S. economy.
A SIA-Boston Consulting Group report released in May predicts that the United States will triple its domestic semiconductor manufacturing capacity from 2022, when CHIPS is enacted, to 2032. The projected growth rate of 203% is the world’s largest projected percentage over this period. The report also projects that the United States will account for more than a quarter (28%) of the world’s total capital investment (capex) from 2024 to 2032.
The U.S. Department of Commerce previously announced incentives for various companies and projects that will help strengthen the U.S. semiconductor supply chain.
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media contact
Dan Rosso
Semiconductor Industry Association
240-305-4738
drosso@semiconductors.org About SIA
The Semiconductor Industry Association (SIA) is the voice of the semiconductor industry, one of America’s top export industries and a critical driver of America’s economic strength, national security, and global competitiveness. SIA accounts for 99% of the U.S. semiconductor industry by revenue and almost two-thirds of non-U.S. semiconductor companies. Through this collaboration, SIA works with Congress, governments, and key industry stakeholders around the world to promote semiconductor manufacturing, promote policies that foster innovation, advance business, and foster global competition. We aim to strengthen design and research leadership. For more information, please visit www.semiconductors.org.
