White House touts $11 billion US semiconductor R&D programme
Congress in August 2022 approved the landmark Chips and Science Act. The law provides $52.7 billion, including $39 billion in subsidies for semiconductor production and $11 billion research and development. It also creates a 25% investment tax credit for building chip plants, estimated to be worth $24 billion.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Product ManagementVisit The centerpiece of the R&D program is the National Semiconductor Technology Center, which will conduct research and prototyping of advanced semiconductor technology.
The center is a «public private partnership that the government, industry customers, suppliers, academics, entrepreneurs, venture capitalists to come together to innovate, connect, network, solve problems and allow Americans to compete and out compete the world,» US commerce secretary Gina Raimondo said at a White House event.
Energy secretary Jennifer Granholm said the effort was part of an «industrial strategy around chips» to preventing the loss of jobs overseas and add American jobs. «A nation that does not do R&D is a weak nation,» Granholm said at the event. «We are not going to be weak anymore.»
NSTC will establish an investment fund to help emerging semiconductor companies advance technologies toward commercialisation.
The 2022 law
