Biden Administration Announces $5 Billion Investment in Advanced Computer Chips Research
Investment Aimed at Supporting Research and Development in Computer Chips
Washington, D.C. – In a significant move to bolster the technological growth of the United States, the Biden administration is set to unveil a $5 billion investment in a public-private consortium dedicated to advancing research and development in the field of advanced computer chips. The CHIPS and Science Act, a 2022 law designed to reenergize the computer chip sector, will serve as the funding source for the newly established National Semiconductor Technology Center.
Building for the Future
Secretary of Commerce Gina Raimondo stated during a press call, “We need to be building for the future, and that means making investments in research and development.” The establishment of the National Semiconductor Technology Center will provide crucial support in funding the design and prototyping of innovative computer chips, while also facilitating the training of skilled workers for the sector. With the government currently injecting $39 billion into new and expanded computer chip plants, it has become imperative for companies to have a highly skilled labor force to capitalize on this opportunity.
Bolstering Job Opportunities and Economic Growth
Data from the Labor Department indicates that the production of computer chips employs approximately 375,000 people in the United States, with an average income of $82,830. The launch of the National Semiconductor Technology Center will contribute to further job creation in the sector, thereby boosting economic growth and stability.
White House Announcement
Government officials have announced that industry leaders and stakeholders are convening at the White House later today for the highly anticipated announcement. This major strategic initiative is expected to propel the United States towards the forefront of advanced computer chip research and development, positioning the nation as a global leader in technological innovation.
