Chipmaker Triples Investment In New Arizona Plant To $40 Billion

  • Multiple manufacturing economies in Asia enforced harsh lockdown measures two years ago, creating bottlenecks in the global semiconductor supply chain that persist to the present day.
  • The CHIPS and Science Act, signed by President Joe Biden earlier this year, provides $39 billion in manufacturing incentives for semiconductors, as well as $13.2 billion for research and development and a 25% investment tax credit for computer chip production.
  • “It means more workers in these major factories, but it also means more opportunities for suppliers and contractors, good paying construction jobs, opportunities for small and medium-sized manufacturers and suppliers,” National Economic Council Director Brian Deese told reporters on Monday.