![]() “This proposed investment and others like it will help ensure that U.S. “This manufacturing investment in Oregon and Colorado will advance the President’s goal of making semiconductors in America again and reducing reliance on global supply chains that led to price spikes and long wait lines for everything from autos to washing machines during the pandemic,” said White House National Economic Advisor Lael Brainard. “With this proposed investment, President Biden is delivering on his promise to rebuild America’s semiconductor supply chain, creating a more secure defense industrial base, lower prices for Americans, and over 700 jobs across Colorado and Oregon.” Today’s announcement with Microchip is a meaningful step in our efforts to bolster the supply chain for legacy semiconductors that are in everything from cars, to washing machines, to missiles,” said Secretary of Commerce Gina Raimondo. “One of the objectives of the CHIPS and Science Act is to address the semiconductor supply chain shortages we saw during the pandemic that put our national security at risk and led to furloughed auto workers and higher prices for consumers. The projects are estimated to nearly triple the output of semiconductors the company produces at these sites, decreasing its reliance on foreign foundries and strengthening supply chain resilience, and creating good-paying jobs in construction and manufacturing. The approximately $162 million in proposed CHIPS funding would be split across two projects: approximately $90 million to modernize and expand a fabrication facility in Colorado Springs, Colorado, and approximately $72 million to expand a fabrication facility in Gresham, Oregon. economic and national security by further securing a reliable, domestic supply of these chips. By investing in Microchip, the Biden-Harris Administration would help advance U.S. Shortages of microcontrollers during the pandemic affected over 1% of global GDP. Microchip’s microcontroller units and mature-node semiconductors are critical components in the production and manufacturing of electric vehicles and other automotives, washing machines, cell phones, airplanes, and the defense-industrial base. Today’s announcement is the second PMT announcement the Department of Commerce has made under the CHIPS and Science Act. supply chains, creating good-paying jobs, protecting national security, and advancing U.S. President Biden signed the CHIPS and Science Act – part of his Investing in America agenda – into law in August 2022, with the goal of strengthening U.S. production of microcontroller units (MCUs) and other specialty semiconductors built on mature-nodes critical to America’s automotive, commercial, industrial, defense, and aerospace industries and create over 700 direct construction and manufacturing jobs. This investment would enable Microchip to significantly increase its U.S. have reached a non-binding preliminary memorandum of terms (PMT) to provide approximately $162 million in federal incentives under the CHIPS and Science Act to support the onshoring of the company’s semiconductor supply chain. Department of Commerce and Microchip Technology Inc. Today, the Biden-Harris Administration announced that the U.S. The Potential Investment Under the CHIPS and Science Act Would Shore Up Domestic Supply of Microcontroller Chips and Create Over 700 New Jobs
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |