That CHIPS and Science Act it is a reality: the document was signed by the President of the United States Joe Biden upon approval by the Senate and House of Representatives and marks a historic turning point for the American economy and consequently also for the world one.
It will strengthen American manufacturing, supply chains, and national security, investing in research and development, science and technology, and the workforce of the future to keep the United States at the forefront of tomorrow’s sectors, including nanotechnology, green energy, and quantum to keep computer science and artificial intelligence.
And the final passage of the CHIPS Act prompted US companies to invest another $50 billion With the aim of to bring semiconductor production back home after years of (voluntary) exile abroad. A prime example is the brand new agreement between Qualcomm and GlobalFoundries to produce semiconductors at their Malta facility in upstate New York. Another case is that of Micron: thanks to its investment 40 billion dollars American production of memory chips will increase from 2 to 10% of world total production within the next decade.
$52.7 billion in incentives They are dedicated only to the semiconductor sector: in this way, the Biden administration intends to revive the fate of a sector that is as fundamental to the world as it is in serious trouble.
The CHIPS and Science Act will strengthen US semiconductor research, development and manufacturing and ensure US leadership in the technology that underpins everything from cars and appliances to defense systems.
The incentives are structured as follows:
- total: $52.7 billion in tax credits and funding for semiconductor research, development, manufacturing and labor, thereof
- $39 billion: production incentives, of which
- $2 billion for autochips and defense systems
- $13.2 billion in research and development and in the workforce
- $500 million for supply chain communications and activities
- $39 billion: production incentives, of which