It’s been more than two years since the Biden-Harris administration ushered through the CHIPS and Science Act, a landmark technology law that allocates $52.7 billion to bolster U.S. semiconductor manufacturing, research and workforce development. The monumental legislation aims to onshore chip manufacturing, an industry that has long been dominated by foreign countries such as China, Taiwan and South Korea.
Included in the law is $39 billion allocated for semiconductor manufacturing projects, which the Commerce Department began doling out as funding awards in December 2023.
Thus far, the Commerce Department has finalized $29.7 billion in funding awards to 13 companies and proposed $2.2 billion to the remaining 15 companies.
The White House has been racing to finalize awards for companies before President-elect Donald Trump takes office in January. The state of the CHIPS Act remains unknown as Trump has expressed disdain for the federal subsidies, including those granted in the law.
Some of the top awardees of CHIPS funding are Taiwan Semiconductor Manufacturing Co., Intel and Samsung Electronics, all with awards of more than $6 billion.
The legislation also includes $13.2 billion for R&D and workforce training and $500 million for global semiconductor supply chain security. Additionally, the act offers a 25% investment tax credit for capital expenses related to semiconductor manufacturing and equipment.
Manufacturing Dive is tracking the status of each award funded by the CHIPS Act’s $39 billion for manufacturing projects. Read on for the status and details of each project.
