CHIPS and Science Act

Departments - Medical Infographic

America invented the semiconductor, but today produces about 10% of the world’s supply – and none of the most advanced chips. The new Act – worth nearly $150 billion – will return manufacturing to the US, lowering costs, creating jobs, and strengthening supply chains.

October 14, 2022

$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

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