White House Invests Additional $162 Million in Expanding US Semiconductor Industry
- 4 months ago
White House Invests Additional, $162 Million in Expanding , US Semiconductor Industry.
CNBC reports that the Biden administration
will provide $162 million in funding for
domestic semiconductor production. .
CNBC reports that the Biden administration
will provide $162 million in funding for
domestic semiconductor production. .
The additional funding comes as the second injection
of funds into the industry from a 2022 law aimed
at revitalizing U.S. semiconductor manufacturing.
Incentives reportedly include $90 million to improve
a manufacturing plant in Colorado Springs, Colorado,
and another $72 million for a factory in Gresham, Oregon. .
According to the Commerce Department,
the investment would allow Microchip
Technology to triple domestic production. .
According to the Commerce Department,
the investment would allow Microchip
Technology to triple domestic production. .
Funding is meant to boost production of microcontrollers,
which have applications in everything from the military and
auto industries to household appliances and medical devices.
According to government officials, the investments
will lead to the creation of 700 construction and
manufacturing jobs over the next 10 years. .
According to government officials, the investments
will lead to the creation of 700 construction and
manufacturing jobs over the next 10 years. .
Semiconductors are the key
input in so many goods that
are vital to our economy, Lael Brainard, director of the White House
National Economic Council, via CNBC.
Lael Brainard, director of the White House National
Economic Council, suggests that increased
U.S. production could help tame inflation. .
In August of 2022, the Biden administration signed
the CHIPS and Science Act into law, which provided
over $52 billion to the U.S. semiconductor industry.
In August of 2022, the Biden administration signed
the CHIPS and Science Act into law, which provided
over $52 billion to the U.S. semiconductor industry.
CNBC reports that government officials
said that additional funding commitments
to the sector are expected in 2024
CNBC reports that the Biden administration
will provide $162 million in funding for
domestic semiconductor production. .
CNBC reports that the Biden administration
will provide $162 million in funding for
domestic semiconductor production. .
The additional funding comes as the second injection
of funds into the industry from a 2022 law aimed
at revitalizing U.S. semiconductor manufacturing.
Incentives reportedly include $90 million to improve
a manufacturing plant in Colorado Springs, Colorado,
and another $72 million for a factory in Gresham, Oregon. .
According to the Commerce Department,
the investment would allow Microchip
Technology to triple domestic production. .
According to the Commerce Department,
the investment would allow Microchip
Technology to triple domestic production. .
Funding is meant to boost production of microcontrollers,
which have applications in everything from the military and
auto industries to household appliances and medical devices.
According to government officials, the investments
will lead to the creation of 700 construction and
manufacturing jobs over the next 10 years. .
According to government officials, the investments
will lead to the creation of 700 construction and
manufacturing jobs over the next 10 years. .
Semiconductors are the key
input in so many goods that
are vital to our economy, Lael Brainard, director of the White House
National Economic Council, via CNBC.
Lael Brainard, director of the White House National
Economic Council, suggests that increased
U.S. production could help tame inflation. .
In August of 2022, the Biden administration signed
the CHIPS and Science Act into law, which provided
over $52 billion to the U.S. semiconductor industry.
In August of 2022, the Biden administration signed
the CHIPS and Science Act into law, which provided
over $52 billion to the U.S. semiconductor industry.
CNBC reports that government officials
said that additional funding commitments
to the sector are expected in 2024