SIA Welcomes Commerce Department Action to Initiate Critical CHIPS Act Incentives

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The Semiconductor Industry Association (SIA) released the following statement from SIA President and CEO John Neuffer in response to the Commerce Department’s release of a Notice of Funding Opportunity, a procedural step that sets in motion the process for companies to apply for manufacturing grants under the CHIPS and Science Act (see summary fact sheet here).

“Today’s action marks an important step forward in the implementation of the CHIPS and Science Act, a landmark law that will boost U.S. semiconductor production and innovation for years to come. We are carefully reviewing the Commerce Department’s Notice of Funding Opportunity, which lays out the rules of the road for companies to apply for the CHIPS Act’s manufacturing grants.

“In anticipation of CHIPS grants, companies in the semiconductor ecosystem have announced dozens of new projects across America since the bill was introduced. These announced projects will total hundreds of billions of dollars in private investments and support hundreds of thousands of U.S. jobs. The CHIPS Act’s manufacturing grants—along with the new law’s substantial investments in semiconductor research—will help reinvigorate the U.S. economy and reinforce America’s national security and critical supply chains.

“As Commerce Secretary Raimondo highlighted during her remarks at Georgetown University last week, CHIPS implementation provides an historic opportunity to ‘unite behind a shared objective … and think boldly and think big.’ We stand ready to work with Secretary Raimondo and leaders in the Commerce Department’s CHIPS Office to ensure the new law is implemented effectively, efficiently, and expeditiously.”