Tuesday, November 26, 2024, 8:00 a.m.
By the Semiconductor Industry Association
WASHINGTON—November 26, 2024—The Semiconductor Industry Association (SIA) today released the following statement from SIA President and CEO John Neufer, announcing the completion of semiconductor manufacturing investments announced by the U.S. Department of Commerce and Intel Corporation. praised. This incentive is part of the CHIPS and Science Act and supports Intel’s manufacturing projects in Arizona, Ohio, Oregon, and New Mexico.
“The CHIPS Act incentives approved today will facilitate Intel’s significant investments in domestic chip production, advanced packaging, and innovation while strengthening the American economy, job creation, global competitiveness, and supply chain resiliency. We applaud Intel’s willingness to invest in these projects and applaud the Department of Commerce for advancing significant CHIPS manufacturing incentives and R&D investments.”
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 more 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 nearly 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.
