US chip funding could result in seven to 10 new factories: Officials Toggle share menu
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25 May 2021 05:20AM (Updated:
25 May 2021 05:26AM) Share this content
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MANASSAS, Virginia: US Commerce Secretary Gina Raimondo said on Monday 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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Advertisement We just need the federal money . to unlock private capital, Raimondo said, adding, it could be seven, could be eight, could be nine, could be 10 new factories in America by the time we re done.
Warner welcomes Senate action on domestic semiconductor manufacturing augustafreepress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from augustafreepress.com Daily Mail and Mail on Sunday newspapers.
File photo of U.S. Senator Charles Schumer (2010).
WASHINGTON, DC – Yesterday, U.S. Senate Majority Leader Charles E. Schumer filed the bipartisan U.S. Innovation and Competition Act, which combines Schumer’s Endless Frontier Act, other bipartisan competitiveness bills, and $52 billion in emergency supplemental appropriations to implement the semiconductor-related manufacturing and R&D programs authorized in last year’s National Defense Authorization Act and a program to support legacy chip production that is essential to the auto industry, the military, and other critical industries.
An additional $1.5 billion is provided for implementation of implement the USA Telecommunications Act that was also passed as part of last year’s NDAA to foster U.S. innovation in the race for 5G. This package of innovation bills will receive a final Senate vote in the days ahead.
Senate Democrat proposes $52 billion for U.S. chips production, R&D
By David Shepardson
Reuters
WASHINGTON (Reuters) - U.S. Senate Democratic Leader Chuck Schumer unveiled revised bipartisan legislation late Tuesday to approve $52 billion to significantly boost U.S. semiconductor chip production and research over five years.
The emergency funding proposal will be included in a more than 1,400-page revised bill the Senate is taking up this week, as first reported by Reuters on Friday, to spend $120 billion on basic U.S. and advanced technology research to better compete with China. American manufacturing has suffered rather dramatically from a chip shortage, Schumer said. We simply cannot rely on foreign processors for chips. This amendment will make sure that we don t have to.