White House Hails Success of CHIPS and Science Act on Second Anniversary

The Facts –

• Over $395 billion in investments in semiconductors and electronics since the CHIPS Act.
• More than 115,000 jobs created as a result of the legislation.
• U.S. semiconductor production on track to reach nearly 30% of global output by 2032.

White House Celebrates CHIPS and Science Act’s Impact on Semiconductor Industry

The White House on Friday highlighted the significant progress made under the CHIPS and Science Act, marking two years since the legislation was signed into law. This act, which aims to bolster domestic semiconductor manufacturing, has led to substantial economic growth and job creation.

In the two years since the CHIPS Act’s enactment, tech companies have committed more than $395 billion in investments. These investments have resulted in the creation of over 115,000 jobs, as the U.S. works to become a global leader in semiconductor production.

“America invented the semiconductor—those tiny chips that power electric vehicles, appliances, cell phones, satellites, and are critical in AI,” President Joe Biden remarked, “My CHIPS and Science Act is bringing chip manufacturing back to America, strengthening global supply chains, and ensuring the United States remains a world leader in AI and other technologies that families, businesses and our military rely on each and every day.”

The White House also noted that the U.S. is on pace to increase its share of global semiconductor production to nearly 30% by 2032. The Commerce Department has provided over $30 billion in incentives to support this growth.

The administration has also launched workforce hubs in Upstate New York, Phoenix, and Columbus, Ohio, to train workers for the new high-tech jobs emerging from this industry.