Press Release
☷One Year Later Secretary Raimondo Reiterates Need for America to Lead on CHIPS in Protecting America s Economic and National Security
U.S. Department of Commerce ( By Press Release office)
Mar 09,2024
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About a year ago , U . S . Secretary of Commerce Gina Raimondo gave a speech at Georgetown University about President Biden ' s CHIPS and Science Act . She recently gave an update on its progress , saying that future projects will be focused on being operational by 2030 , with the goal of the U . S . producing 20% of the world ' s leading - edge chips by then . This reflects President Biden ' s commitment to leading in semiconductor production and creating jobs . Secretary Raimondo emphasized the importance of semiconductors in the 21st century and the need to increase chip - making in the U . S . to protect the economy and national security . She also highlighted the demand for leading - edge chips due to AI technology . Investments have already been made in chip companies , and more announcements are expected soon . The CHIPS for America initiative has received a lot of interest from companies and has expanded programming to support the semiconductor industry . The National Semiconductor Technology Center has also been established to address challenges and create a skilled workforce . Secretary Raimondo expressed optimism about the progress being made and the positive impact on American manufacturing and innovation . This week , Secretary Raimondo gave a speech as the Biden - Harris Administration keeps working on the CHIPS and Science Act . This law gives $50 billion to the Department of Commerce for programs to boost semiconductor research and support American workers . Check out Secretary Raimondo ' s speech and read the full transcript . Gina M . Raimondo is leading the charge at the National Institute of Standards and Technology . #SemiconductorIndustry #NationalSecurity .
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