The White House has announced an investment of $162 million to bolster the domestic semiconductor production in the United States. This funding marks the second tranche of capital injection into the industry, following the enactment of the CHIPS and Science Act in August 2022.
As part of the investment plan, $90 million will be allocated to improve a manufacturing plant located in Colorado Springs, Colorado. Additionally, a sum of $72 million will be designated for a factory in Gresham, Oregon. These incentives aim to enhance the production capabilities of Microchip Technology, enabling the company to triple its domestic production.
The primary focus of this funding is to stimulate the production of microcontrollers, which find applications across a wide range of industries such as the military, automotive, household appliances, and medical devices. The move is expected to create approximately 700 construction and manufacturing jobs over the next decade, according to government officials.
Lael Brainard, director of the White House National Economic Council, has highlighted the importance of semiconductors as a key input for numerous goods critical to the economy. Brainard also suggests that increasing U.S. production in this sector could help mitigate the rising inflation.
The Biden administration’s commitment to supporting the semiconductor industry is part of a broader effort to revitalize the domestic manufacturing sector and maintain the country’s competitiveness in the global market. By investing in semiconductors, the government aims to reduce reliance on foreign supply chains and strengthen national security.
While this $162 million funding injection will undoubtedly contribute to the expansion of the U.S. semiconductor industry, government officials have hinted that more financial support can be expected in 2024. This ongoing commitment signifies the administration’s long-term strategy to secure the nation’s semiconductor production capabilities and foster innovation in this critical sector.
The source of the article is from the blog trebujena.net