Over 300 Companies Want a Piece of the CHIPS Fund
According to one source, more than 300 semiconductor companies are seeking support from US CHIPS and science foundations. bloomberg Report citing US Department of Commerce data. Relatively few of these companies actually produce chips, but without the hundreds of other participants in the semiconductor supply chain, the industry would never function.
The CHIPS Program Office has already received over 300 Letters of Interest (SOIs) from various applicants in 37 states. Evergrade Consulting Reporting claims. These inquiries include requests for incentives related to chip production, packaging, and R&D facilities, as well as companies that provide raw materials and wafer fabrication equipment.
The submitted application details a series of projects related to semiconductor manufacturing. These projects range from supplying critical materials and chemicals to building advanced manufacturing hubs, manufacturing legacy chips for critical industrial sectors to establishing research facilities focused on new technologies.
The CHIPS initiative, which aims to revitalize the U.S. semiconductor sector, continues to accept SOIs for all appropriate projects, including applications from research and development facilities and various participants in the semiconductor supply chain.
According to EverGlade, the team evaluates proposals for initial financing opportunities related to setting up commercial manufacturing facilities on a first-come, first-served basis, which essentially means that applications from companies like Intel will be reviewed first. means.
The CHIPS and Science Act allows the US government to give domestic semiconductor manufacturers about $52 billion in subsidies and additional incentives. It will also determine a 25% investment tax credit for new manufacturing plants worth up to $24 billion. Additionally, the law designates more than $170 billion for him over the next five years for various scientific research efforts in the United States.
Discussions over CHIPS and scientific law have motivated various companies to invest about $200 billion in the U.S. semiconductor industry, according to the Semiconductor Industry Association.