$62 million in funding to support U.S. chip factories.
The U.S. Department of Commerce announced a second tranche this week from the Chips and Science Act of 2022 to support the domestic production of computer chips.
An Arizona-based microchip technology company is the primary beneficiary of the funds which will permit it to “significantly increase its U.S. production of microcontroller units (MCUs) and other specialty semiconductors built on mature-nodes critical to America’s automotive, commercial, industrial, defense, and aerospace industries and create over 700 direct construction and manufacturing jobs.”
The Commerce Department said, plants in Colorado Springs, Colorado, and Gresham, Oregon, will be improved and expanded with the funding, nearly doubling the semiconductor output of the company.
Secretary Gina Raimondo stated the announcement “is a meaningful step in our efforts to bolster the supply chain for legacy semiconductors that are in everything from cars, to washing machines, to missiles. With this proposed investment, President Biden is delivering on his promise to rebuild America’s semiconductor supply chain, creating a more secure defense industrial base, lower prices for Americans, and over 700 jobs across Colorado and Oregon.”
As the Lord Leads, Pray with Us…
- For Secretary Raimondo to be directed by the Lord as she oversees the Commerce Department.
- For wisdom for administration officials as they allot funding through grants and programs for manufacturing and production.
Sources: Reuters, The Hill
