Give us cash Uncle Sam
The U.S. Commerce Department said that more than 460 companies have expressed interest in winning government semiconductor subsidy funding to boost the country’s competitiveness with China’s science and technology efforts.
The White House is marking President Joe Biden’s one-year anniversary of signing the landmark “Chips for America” legislation providing $52.7 billion in subsidies for U.S. semiconductor production, research and workforce development.
Biden said that companies have announced $166 billion in semiconductors and electronics manufacturing over the last year, adding the law will “make America once again a leader in semiconductor manufacturing and less dependent on other countries for our electronics or clean energy supply chains.”
The Commerce Department began accepting applications in June for the $39-billion subsidy program for U.S. semiconductor manufacturing as well as equipment and materials for making chips but has not yet issued awards.
Commerce Secretary Gina Raimondo said: “We’re finally making the investments long overdue to secure our economic and national security. We need to move quickly, but it’s more important we get it right.”
