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SIA Applauds CHIPS Act Incentives for GlobalWafers Projects in Texas and Missouri
July 18, 2024 | SIAEstimated reading time: 1 minute
The Semiconductor Industry Association (SIA) released the following statement from SIA President and CEO John Neuffer applauding semiconductor manufacturing incentives announced by the U.S. Department of Commerce and GlobalWafers. The incentives, which are part of the CHIPS and Science Act, will support the development of semiconductor wafer production in Texas and Missouri. The Commerce Department previously announced incentives for a range of companies and projects that will help strengthen the U.S. semiconductor supply chain.
“The important incentives announced today will help GlobalWafers bring more wafer production, jobs, and innovation to U.S. shores. The vast majority of silicon wafers are manufactured in East Asia, so expanding U.S. production in this sector will strengthen our supply chains. We congratulate GlobalWafers for this milestone investment and commend the U.S. Commerce Department for its continued work to effectively allocate CHIPS funds.”
The CHIPS Act’s manufacturing incentives have sparked substantial announced investments in the U.S. In fact, companies in the semiconductor ecosystem have announced more than 80 new projects across 25 U.S. states—totaling hundreds of billions of dollars in private investments—since the CHIPS Act was introduced. These announced projects will create more than 56,000 jobs in the semiconductor ecosystem and support hundreds of thousands of additional U.S. jobs throughout the U.S. economy.
An SIA-Boston Consulting Group report released in May projected the United States will triple its domestic semiconductor manufacturing capacity from 2022—when CHIPS was enacted—to 2032. The projected 203% growth is the largest projected percent increase in the world over that time. The report also projected America will capture over one-quarter (28%) of total global capital expenditures (capex) from 2024-2032, ranking second only to Taiwan (31%).
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