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SIA Commends Finalization of CHIPS Incentives for GlobalWafers
December 19, 2024 | SIAEstimated reading time: 1 minute
The Semiconductor Industry Association (SIA) released the following statement from SIA President and CEO John Neuffer commending finalization of CHIPS and Science Act manufacturing investments announced by the U.S. Department of Commerce and GlobalWafers. The incentives will support the development of semiconductor wafer production in Texas and Missouri.
“The GlobalWafers facilities in Texas and Missouri will expand domestic wafer production—most of which currently occurs in East Asia—and strengthen America’s semiconductor supply chain, job creation, and economic growth. We applaud GlobalWafers for investing boldly in these projects and commend the Commerce Department for continuing to advance vital CHIPS incentives.”
The CHIPS Act is on track to strengthen American manufacturing, create jobs, boost economic growth, and promote national security. The CHIPS Act’s manufacturing incentives have sparked substantial announced investments in the U.S. In fact, companies in the semiconductor ecosystem have announced 90 new projects across 28 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 58,000 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.
The U.S. Department of Commerce previously announced incentives for a range of companies and projects that will help strengthen the U.S. semiconductor supply chain.
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