CHIPS and Science Act

$52.7B: American semiconductor research, development, manufacturing, workforce development

The Act includes:

• $39B – Manufacturing incentives
• $13.2B – R&D, workforce development

$2B – Legacy chips used in automobiles, defense systems

$1.5B – Promoting, deploying wireless technologies using open, interoperable radio access networks

$500M – International information communications technology security and semiconductor supply chain activities

25% – Investment tax credit for capital expenses for manufacturing of semiconductors, related equipment

The Act authorizes:

• $10B – Investment in regional innovation, technology hubs across the country
• $1B – RECOMPETE pilot program at the Department of Commerce’s Economic Development Administration (EDA), alleviating persistent economic distress, supporting long-term comprehensive economic development, job creation in the most distressed communities
• STEM education – New and expanded investments in Science, Technology, Engineering, and Mathematics (STEM) education and training from K-12 to community college, undergraduate, graduate education

Investments – Expanding geographic, institutional diversity of research institutions and the students, researchers they serve, including supporting Historically Black Colleges and Universities (HBCUs) and other minority-serving institutions, academic institutions providing opportunities to historically-underserved students, communities

Source: https://bit.ly/US-CHIPS-Act