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December 11, 2023 | SIAEstimated reading time: 1 minute
The Semiconductor Industry Association (SIA) released the following statement from SIA President and CEO John Neuffer in response to the first semiconductor manufacturing incentives announced by the U.S. Department of Commerce as part of the CHIPS and Science Act.
“Today’s announcement represents an important milestone on the path to fulfilling the tremendous promise of the CHIPS and Science Act and reinforcing America’s national security, critical supply chains, and the economy. We applaud Secretary Raimondo and the CHIPS Program Office team for working diligently to begin getting CHIPS incentives out the door. We look forward to additional projects being funded and stand ready to continue working with Commerce Department leaders to ensure the CHIPS and Science Act reinvigorates U.S. semiconductor production and innovation for years to come.”
The CHIPS Act’s manufacturing incentives have already sparked substantial investments in the U.S. In fact, companies in the semiconductor ecosystem have announced dozens of new projects across America—totaling more than $200 billion in private investments—since the CHIPS Act was introduced. These announced projects will create more than 40,000 jobs in the semiconductor ecosystem and support hundreds of thousands of additional U.S. jobs throughout the U.S. economy.
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