CHIPS Act anniversary celebration
The U.S. Department of Commerce is celebrating the first anniversary of the historic CHIPS and Science Act.
Signed into law by President Joe Biden, the law invests $50 billion to boost U.S. manufacturing, bring supply chains back to US shores, and protect national security. The CHIPS and Science Act will enhance the competitiveness of the American semiconductor industry to reduce reliance on other countries for semiconductor manufacturing, while protecting our long-term national security and strengthening the U.S. economy.
“The CHIPS for America program is a historic opportunity to solidify America’s leadership and protect national security. Our work will boost semiconductor manufacturing, strengthen supply chains, and unleash the next generation of innovation. We’ve come a long way in the first year, but there’s exciting work still to be done. Under the President’s leadership, and through the CHIPS for America program, we’re ensuring that America secures its role as a technological superpower for decades to come,” said Secretary of Commerce Gina Raimondo.
In February, the Department of Commerce released its first notice of funding opportunity targeting commercial manufacturing facilities, and later opened it to include large supply chain and material equipment projects. In response, over 460 statements of interest have been submitted by companies eager to manufacture semiconductors in the United States. Private companies have announced more than $230 billion in semiconductor manufacturing under the Biden-Harris Administration.
“Since President Biden signed the CHIPS and Science Act into law, and before we’ve even given out a dime in CHIPS funding, we have already seen robust investments from private sector companies interested in establishing production in the U.S. As we charge ahead, we will continue to work with these companies to restore our nation’s supply chains, build out the workforce we need to compete in the 21st century economy, and ensure that leading-edge fabs are built here in America,” said Deputy Secretary of Commerce Don Graves.
Over the last year, the CHIPS for America team has grown to include 140 people housed in two newly established offices. The team holds decades of experience from both industry and government, with backgrounds in research and development, investments, and management of large-scale projects.
In July, the Department of Commerce signed a Memorandum of Agreement (MOA) with the Department of Defense to increase the exchange of information and coordinate on efforts to strengthen the U.S. semiconductor industrial base. Through this MOA, the two Departments can better address semiconductor needs for U.S. national security and defense programs.
Secretary Raimondo recently revealed that Commerce has received more than 460 Statements of Interest across 42 states with proposals from companies looking to manufacture semiconductors, or chips, in America. CHIPS for America is going to create hundreds of thousands of good-paying jobs that have the potential to change lives, offer family-sustaining benefits, and lead to long-term careers.
“As a result of the CHIPS and Science Act, we’ve made huge strides over the past year in implementing the program and amassing private sector interest and enthusiasm,” said Raimondo. “President Biden has done more than any other president to revitalize American manufacturing and innovation. Under his leadership, we’re ensuring that America secures its role as a technological superpower for decades to come.”
