Friday, November 8, 2024, 5:00 p.m.
By the Semiconductor Industry Association
WASHINGTON—November 8, 2024—The Semiconductor Industry Association (SIA) today praised the semiconductor manufacturing incentives announced by the U.S. Department of Commerce to Corning and Powerlex, SIA Chairman and CEO John Neuffer He issued the following statement:
The incentives, part of the CHIPS and Science Act, will supplement business investment in the United States that creates jobs, strengthens the economy, and strengthens the domestic semiconductor supply chain. One agreement will facilitate the expansion of Corning’s high-purity fused silica and EXTREME ULE glass manufacturing facility in New York. Another agreement will support the modernization and expansion of Powerex’s semiconductor packaging facility in Pennsylvania.
“The incentives announced today will help increase the resiliency of the U.S. semiconductor supply chain and strengthen domestic manufacturing, while improving the U.S. economy, national security, and global competitiveness. The facility will produce advanced materials that improve the performance and efficiency of semiconductor lithography, strengthening U.S. leadership in this fundamental part of the supply chain.
“Powerex’s expanded facility will deliver critical U.S. industrial and defense packages and strengthen this critical capability on U.S. shores. We applaud the U.S. Department of Commerce for continuing to passionately promote CHIPS incentives.”
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 total global 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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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.
