President Biden has announced efforts to strengthen semiconductor manufacturing operations and improve the resilience of supply chains.
One of the initiatives is Intel’s plan to establish a $20 billion factory in Ohio that is expected to ramp up chip production and create 3,000 full-time jobs and 7,000 construction jobs, according to a White House fact sheet published Thursday.
The president also mentioned that semiconductor companies, including Samsung and Micron, announced $80 billion in investments in 2021 to build new manufacturing facilities in the U.S.
Biden has called on Congress to pass a bill that would promote research and development and expand manufacturing for semiconductors and other critical supply chains.
The proposed U.S. Innovation and Competition Act would authorize full funding for the CHIPS for America Act. The measure includes “$52 billion incentive for more companies to build their manufacturing facilities here in the United States of America,” Biden said.