Press Release
☷FACT SHEET Biden Harris Administration Announces Over $5 Billion from the CHIPS and Science Act for Research Development and Workforce
White House ( By Press Release office)
Feb 09,2024
| 20| 1
The Biden - Harris Administration just announced plans to invest more than $5 billion in semiconductor research and development , as well as workforce development . This includes funding for the National Semiconductor Technology Center ( NSTC ) , which is part of a public - private consortium . These investments will help advance President Biden ' s goals of boosting R&D in the United States , strengthening national security , and creating more job opportunities in the semiconductor industry . The United States used to be a leader in semiconductor innovation , but our global market share has dropped to less than 10% . By increasing government investment in R&D , we can regain our position as a global leader in technology . The CHIPS and Science Act , part of President Biden ' s Investing in America agenda , aims to make a historic investment in semiconductor manufacturing , R&D , and the workforce . The NSTC is a key component of this program and will bring together various stakeholders to accelerate innovation , improve access to semiconductor R&D , and nurture a diverse and skilled workforce . The White House recently hosted a series of meetings with industry leaders , academics , government officials , and labor representatives to discuss these initiatives and drive progress in the semiconductor industry . Furthermore , we will work closely with federal agencies and stakeholders from various sectors to guide the NSTC ' s workforce activities , aiming to launch them in summer 2024 . This collaborative approach will ensure that the NSTC benefits from expertise across the government , as well as industry , academia , labor , and workforce training providers . Commerce just announced their plans to invest at least $200 million in a CHIPS Manufacturing USA Institute . This institute will be the first of its kind , allowing innovators to replicate and experiment with manufacturing processes at a low cost . The goal is to reduce chip development and manufacturing costs , speed up development time , and promote the adoption of new semiconductor manufacturing technologies . Additionally , Commerce plans to fund up to $300 million in advanced packaging research and development , which is crucial for semiconductor manufacturing . They have also awarded over $100 million in funding to 29 projects in the CHIPS Metrology program , focusing on developing new measurement instruments and methods for advanced microelectronics design and manufacturing . These initiatives are part of the Administration ' s efforts to promote research and innovation in the United States through the CHIPS and Science Act . They have also invested over $530 million in 10 emerging innovation ecosystems and designated a new nonprofit , the National Center for the Advancement of Semiconductor Technology ( Natcast ) , as the operator of the NSTC . Additionally , the Administration has designated 31 Regional Tech Hubs to support innovation in semiconductor manufacturing .
PLAY the NEWS
* May be useful for visually impaired persons .
Press release information:
Direct link to press release:
Click here .
