By Godson Umejiego, Bureau Chief, The Americas
On August 9th, the Department of Commerce celebrated the first anniversary of the historic CHIPS and Science Act. Signed into law by President Joe Biden, the law invests US$50 billion to boost US manufacturing, bring supply chains back to our shores, and protect national security.
In February, the Department of Commerce released its first notice of funding opportunity targeting commercial manufacturing facilities, and later opened it to include large supply chain and material equipment projects. In response, over 460 statements of interest have been submitted by companies eager to manufacture semiconductors in the United States. Private companies have announced more than US$230 billion in semiconductor manufacturing under the Biden-Harris Administration.
Over the last year, the CHIPS for America team has grown to include 140 people housed in two newly established offices. The team holds decades of experience from both industry and government, with backgrounds in research and development, investments, and management of large-scale projects.
