Two years ago today, President Biden signed the historic bipartisan CHIPS and Science Act, providing nearly $53 billion to bring the semiconductor supply chain back to the United States, create jobs, support American innovation, and protect our national security.
To date, Commerce has announced more than $30 billion in CHIPS private investment proposals across 23 projects in 15 states. These projects include 16 new semiconductor manufacturing facilities and are expected to create more than 115,000 manufacturing and construction jobs nationwide. Commerce expects to distribute all remaining funds to CHIPS grant recipients by the end of 2024.
“Thanks to the CHIPS and SCIENCE Act, we have made great progress over the past two years in implementing the program and growing private sector interest and enthusiasm,” said Commerce Secretary Gina Raimondo. “Under the leadership of President Biden and Vice President Harris, we are creating good-paying jobs and bringing semiconductor manufacturing back to the United States.”
These CHIPS investments will make the U.S. home to all five of the world’s most advanced logic and DRAM semiconductor manufacturers — no other economy in the world has more than two. As a result, the U.S. is expected to produce nearly 30% of the world’s most advanced chips by 2032, up from 0% when President Biden and Vice President Harris took office.
Chips, or semiconductors, power our lives, including our smartphones, new cars, medical devices and everything else in America. They’re critical building blocks of technologies that will shape our future, including artificial intelligence, biotechnology and clean energy.
Through the President’s Invest in America policies, the Biden-Harris Administration is building an economy that generates innovation and opportunity for all hardworking American families.
For more information on the accomplishments of the Department of Commerce and other Federal agencies over the past two years, see today’s White House fact sheet.
Also see CHIPS for America’s two-year progress report: https://lnkd.in/eJUdHsAG.
For more information about CHIPS for America, visit CHIPS.gov.
