During his annual State of the Union address, US President Joe Biden touched on the semiconductor industry. He recalled last year's "Chip Act" aimed at launching hundreds of billions of dollars of manufacturing capacity in the United States, and noted that the country cannot have the the chip shortage that disrupted the auto industry again.
Passed last year, the CHIPS and Science Act provides chip makers with $52 billion in public investment to build semiconductor manufacturing facilities in the US. Major companies including Intel, Micron, Samsung and TSMC have already announced plans to set up hundreds of billions of dollars worth of new chip factories in the US.
There is some doubt that this law will actually help increase production, writes The Wall Street Journal. And many of the most advanced chips will still be produced outside the US, but Mr. Biden has no doubts about the effectiveness of the measures taken. He noted that during the pandemic, the lack of chips caused big problems, including delays in the production of cars and trucks. "We can't let this happen again," the President said.
“We will make every effort to ensure that the supply chain for America starts in America. Even without this law, we have already created 800,000 manufacturing jobs. With this new law, we will create hundreds of thousands of jobs across the country. Companies that over the past two years have announced their intention to invest more than $ 300 billion in American production will also participate. Intel is building semiconductor factories on a thousand acres near Columbus in Ohio - literally a dream field. This will create 10,000 jobs. 7,000 jobs for builders. 3,000 jobs when factories are built. $130,000 a year salaries and many do not require a college degree. Places where people don't have to leave their homes in search of opportunities. And everything is just beginning, ”the President of the United States promised.