By Deba Uwadiae
President Joe Biden, Ohio Governor Mike DeWine, and other state and local officials will join Intel’s CEO Pat Gelsinger for the breaking ground of Intel’s $20 billion Ohio semiconductor manufacturing site on Friday, September 9, 2022.
In August, President Joe Biden signed into law the CHIPS and Science Act of 2022 in order to effectively implement the incentives for semiconductor research, development, and manufacturing provided by division A of H.R. 4346 (the “Act”) to provide federal aid.
The CHIPS and Science Act of 2022 (P.L. 117-167), a bipartisan law, focuses on federal aid to encourage the construction of microprocessor manufacturing facilities in the United States.
The objective is to reduce U.S. reliance on overseas chip supply chains, and increased authorizations to boost the nation’s science and technology base. Additionally, the law provides subsidies to manufacture semiconductors in the U.S., boost science and technology research and address China’s anti-competitive trade practices.
The passed legislation invests nearly $250 billion in a combination of semiconductor and other scientific research and development.
