Earlier today, President Joe Biden signed the CHIPS and Science Act, a historic investment in the U.S. semiconductor industry. The legislation provides a 25% tax credit for U.S. facilities that produce semiconductors or chipmaking equipment and $52 billion in funding for new semiconductor programs. The funding includes $39 billion for grants available to chip manufacturers as well as semiconductor equipment and materials suppliers and $11 billion for federal semiconductor research programs.
“The CHIPS and Science Act secures landmark investments to bolster semiconductor manufacturing and R&D infrastructure as well as a wide range of ancillary industries in the United States,” said Ajit Manocha, SEMI president and CEO, who attended the signing ceremony. “We thank President Biden, Secretary Raimondo, the original CHIPS Act sponsors, leadership in Congress and the committees of jurisdiction for their support in enacting the investment tax credit and funding for CHIPS Act programs.”
“SEMI looks forward to continuing collaboration with the U.S. government and our member companies to ensure timely implementation of these programs to strengthen the U.S. semiconductor supply chain,” said Manocha. “The CHIPS and Science Act funding will also be instrumental in buttressing the National Semiconductor Technology Center (NSTC), National Advanced Packaging Manufacturing Program and related programs in order to drive chip industry innovations that will better the lives of people around the world.”
David Anderson, President of the New York Center for Research, Economic Advancement, Technology, Engineering and Science (NY CREATES) issued the following statement:
“With President Biden’s signature today, the United States sent a message around the globe that we’re committed to re-establishing American leadership and ingenuity in the semiconductor industry. As I’ve said before, this is not about one industry – virtually every industry relies on semiconductors, making this historic investment critical to both our economic and national security.
“Between global industry leaders and innovative start-up enterprises and many others, New York has the assets and the talent to bring the industry together. An advanced research hub like the National Semiconductor Technology Center needs a proven chip innovation ecosystem like New York’s, which boasts nation-leading infrastructure that is already operational and supported by partner companies, academic institutions, and a highly skilled workforce. NY CREATES has been preparing for more than two years to support the Federal government in this endeavor and we’re ready to have the NSTC headquartered in New York, at the Albany Nanotech Complex.”
