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SIA Applauds Announcement of New CHIPS Incentives
January 4, 2024 | 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 semiconductor manufacturing incentives announced by the U.S. Department of Commerce and Microchip Technology. The incentives, which are part of the CHIPS and Science Act, will support Microchip’s manufacturing projects in Colorado and Oregon.
“Today’s announcement will help propel semiconductor manufacturing projects in Colorado and Oregon and reinforce America’s chip supply chains for critical automotive, medical, aerospace, and defense technologies, among other applications. We congratulate Microchip on advancing these important projects and commend the progress made by Secretary Raimondo and the CHIPS Program Office team in beginning to distribute CHIPS incentives. We look forward to seeing more projects receive vital CHIPS funding to help reinvigorate America’s economy, national security, and critical supply chains.”
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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