President Biden signed the CHIPS and Science Act of 2022 into law to strengthen and revitalize the United States’ position in semiconductor research, development, and manufacturing. With $50 billion allocated to the Department of Commerce, the CHIPS for America initiative aims to address the country’s lag in semiconductor manufacturing and enhance its economic and national security.

The CHIPS Program Office, part of the Department of Commerce, is responsible for implementing the law. They have launched their first funding opportunity to support the construction, expansion, or modernization of commercial facilities for the fabrication of cutting-edge semiconductors. The program will soon accept applications for projects focused on semiconductor materials and manufacturing equipment facilities with capital investments exceeding $300 million.

Later in 2023, the CHIPS Program Office plans to release additional funding opportunities for semiconductor materials and manufacturing equipment facilities with investments below $300 million, as well as for research and development facilities. These investments are crucial for restoring U.S. leadership in semiconductor manufacturing, creating high-paying jobs, and bolstering economic and national security.