The CHIPS Act Has Already Sparked $200 Billion in Private Investments for U.S. Semiconductor Production
By Robert Casanova, Director, Industry Statistics and Economic Policy
By enacting the CHIPS and Science Act in August 2022, policymakers in Washington took an historic step toward attracting investment in semiconductor production and innovation in the U.S. And while the new law must still be implemented effectively and efficiently to realize its potential, the CHIPS Act has already sparked private investments in the U.S. that will strengthen the U.S. economy, job creation, and supply chain resilience.
“From the time the CHIPS Act was introduced in the Spring of 2020 through the months following its enactment, companies in the semiconductor ecosystem announced dozens of projects to increase manufacturing capacity in the U.S. Some projects began in anticipation of CHIPS Act funding and relying on policymakers’ commitment to follow through on such funding, while others moved forward following enactment of the legislation. Here are some highlights of announcements spurred by the CHIPS Act:
- Over 40 new semiconductor ecosystem projects announced across the U.S., including the construction of new semiconductor manufacturing facilities (fabs), expansions of existing sites, and facilities that supply the materials and equipment used in chip manufacturing
- $200 billion in private investments announced across 16 states to increase domestic manufacturing capacity
- 40,000 new high-quality jobs announced in the semiconductor ecosystem as part of the new projects, which will support many more jobs throughout the broader U.S. economy
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