UPDATE President Joe Biden on Tuesday signed a $280 billion package that aims to boost U.S. semiconductor chip production and R&D in this country. The Chips and Science Act is meant to help prevent future supply chain crises and increase competition with China.
The bill, which passed Congress in late July with bipartisan support, gives $52.7 billion in funding for U.S. semiconductor production and another $200 billion for scientific research. It includes a technology directorate at the National Science Foundation meant to translate basic research into commercial products, notes Axios.
The signing came on the same day that Idaho-based chipmaker Micron said it plans to invest $40 billion in its U.S. semiconductor manufacturing. According to the company, the investment will create 40,000 new jobs and bring the “world’s most advanced memory manufacturing” to the U.S., reports The Hill.
Intel said in January it would build a $20 billion semiconductor facility in Ohio that was contingent on new subsidies, Inside Towers reported. Chipmakers GlobalFoundries and TSMC have also announced new investments.
By Leslie Stimson, Inside Towers Washington Bureau Chief
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