On Friday, the Biden administration is set to unveil a significant investment of $5 billion in a collaborative effort between public and private sectors aimed at bolstering research and development in advanced computer chips.
Funded through the CHIPS and Science Act of 2022, the National Semiconductor Technology Center represents a strategic move to revitalize the computer chip sector within the United States by providing targeted government support.
Commerce Secretary Gina Raimondo emphasized the importance of investing in research and development for future advancements during a preview call with reporters regarding the financial commitment.
The establishment of the center will facilitate funding for the design and prototyping of innovative chips, as well as the training of a skilled workforce to support the sector. This initiative comes in conjunction with a separate $39 billion allocated by the government to fund the construction of new and expanded computer chip manufacturing facilities. According to data from the Labor Department, approximately 375,000 individuals are currently employed in the production of computer chips, with an average income of $82,830.
Government officials have indicated that industry leaders and stakeholders will convene at the White House on Friday for the official announcement of this groundbreaking initiative.
