It’s Only Common Sense: Be the Solution, Not the Problem
American Made Advocacy: Long-time Challenges Confront a New Administration
Marcy's Musings: It's Show Time!
SIA Praises Finalization of CHIPS Incentives to Supplement SK Hynix’s $3.87 Billion Investment in Indiana
December 20, 2024 | SIAEstimated reading time: 1 minute
The Semiconductor Industry Association (SIA) today 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 SK hynix. The incentives will supplement the company’s $3.87 billion investment in Indiana for advanced packaging operations and R&D.
“The CHIPS incentives announced today will help strengthen U.S.-based R&D and advanced packaging for artificial intelligence products, filling a key gap in America’s semiconductor supply chain and strengthening U.S. technology leadership. We applaud SK Hynix for investing ambitiously in these projects, which will also create jobs and economic growth in Indiana, and we commend the U.S. Commerce Department for working to finalize these critical CHIPS investments.”
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.
Share on:
Suggested Items
YINCAE: UF 158UL Redefines Underfill for Large Chips
03/12/2025 | YINCAEYINCAE, a leading innovator in advanced materials solutions, today announced the launch of its groundbreaking underfill material, UF 158UL. This cutting-edge product is designed to meet the increasing demands of large format chips, offering unparalleled performance in room temperature flow, fast cure, and high reliability.
TASMIT Launches Large Glass Substrate Inspection System for Advanced Semiconductor Packaging
03/04/2025 | ACCESSWIRETASMIT Inc. has launched a new inspection system for glass substrates as part of its INSPECTRA® series of semiconductor wafer visual inspection systems, which has gained attention for its high efficiency in advanced semiconductor manufacturing.
eInfochips Joins Samsung Advanced Foundry Ecosystem (SAFE™) to Drive Semiconductor Innovation
02/28/2025 | PRNewswireeInfochips, an Arrow Electronics company, announced the company has joined the Samsung Advanced Foundry Ecosystem (SAFE™) as a Virtual Design Partner.
SEMI ISS Europe 2025 Speakers to Address AI, Sustainability, Supply Chain Resilience, and Workforce Development
02/17/2025 | SEMIThe SEMI Industry Strategy Symposium Europe (ISS Europe) 2025, March 12-14 in Sopot, Poland, is themed AI: Catalyst to Propel Europe’s Competitiveness. The event will explore how AI is reshaping economic, technological, and market dynamics within the semiconductor industry.
European Chip Giants NXP, STMicroelectronics Prepare for Layoffs
02/06/2025 | I-Connect007 Editorial TeamWhile companies like NVIDIA dominate the headlines with announcements of record chip sales associated with AI, European chip makers that are more dependent on industrial and automotive electronics are under pressure as demands for their chips slow. NXP, headquartered in the Netherlands, recently announced disappointing financials, down 5% from the previous year, primarily due to softening demand in those markets.