Government funding could help set up seven to 10 new chip factories
Government funding is needed to unlock private capital for chip invest, suggests US Commerce Secretary Gina Raimondo
Government funding could help set up seven to 10 new chip factories
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U.S. Government Funding Could Add Up To 10 New Semiconductor Chip Plants
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US could fund up to 10 chip factories
INCREASING PRODUCTION: The planned US$52 billion in government financing could produce ‘US$150 billion-plus’ in private investment, the US commerce secretary said
Reuters, MANASSAS, Virginia
US Secretary of Commerce Gina Raimondo on Monday said that a proposed US$52 billion boost in US government funding for semiconductor production and research could result in seven to 10 new US factories.
Raimondo said at an event outside a Micron Technology Inc chip factory that she anticipated the government funding would generate “US$150 billion-plus” in investment in chip production and research including contributions from state and federal governments and private-sector firms.
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MANASSAS, Va. (Reuters) - U.S. Commerce Secretary Gina Raimondo said on Monday a proposed $52 billion boost in U.S. government funding for semiconductor production and research could result in seven to 10 new U.S. factories.
FILE PHOTO: Commerce Secretary Gina Raimondo testifies before a Senate Appropriations Committee hearing to examine the American Jobs Plan, on Capitol Hill in Washington, D.C., U.S., April 20, 2021. Oliver Contreras/Pool via REUTERS
Raimondo said at an event outside a Micron Technology Inc chip factory that she anticipated the government funding would generate “$150 billion-plus” in investment in chip production and research - including contributions from state and federal governments and private-sector firms.
US chip funding could result in seven to 10 new factories -officials Toggle share menu
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US chip funding could result in seven to 10 new factories -officials U.S. Commerce Secretary Gina Raimondo said on Monday a proposed US$52 billion boost in U.S. government funding for semiconductor production and research could result in seven to 10 new U.S. factories.
FILE PHOTO: Commerce Secretary Gina Raimondo testifies before a Senate Appropriations Committee hearing to examine the American Jobs Plan, on Capitol Hill in Washington, D.C., U.S., April 20, 2021. Oliver Contreras/Pool via REUTERS
25 May 2021 05:55AM (Updated:
25 May 2021 05:55AM) Share this content