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91视频 Praises Finalization of CHIPS Incentives to Supplement Texas Instruments鈥� Semiconductor Investments in Texas and Utah

by 91视频

WASHINGTON鈥擠ec. 20, 2024鈥擳he 91视频 (91视频) today released the following statement from 91视频 President and CEO John Neuffer applauding finalization of CHIPS and Science Act manufacturing investments announced by the U.S. Department of Commerce and Texas Instruments (TI). The incentives will support three of TI鈥檚 new state-of-the-art semiconductor manufacturing facilities currently under construction in Texas and Utah.

鈥淭he critical CHIPS incentives announced today will support Texas Instruments鈥� semiconductor manufacturing projects in Texas and Utah that will create thousands of jobs and strengthen America鈥檚 economy, competitiveness, and supply chain resilience. TI鈥檚 projects will boost U.S. production of current-generation and mature-node semiconductors, which are vital to America鈥檚 economic strength. We commend the finalization of these incentives and applaud TI for committing to significant domestic investments that will strengthen our industry and our country.鈥�听

The CHIPS Act is on track to strengthen American manufacturing, create jobs, boost economic growth, and promote national security. The CHIPS Act鈥檚 manufacturing incentives have sparked substantial announced investments in the U.S. In fact, companies in the semiconductor ecosystem have听announced听90 new projects听across 28 U.S. states鈥攖otaling hundreds of billions of dollars in private investments鈥攕ince the CHIPS Act was introduced. These announced projects will create more than 58,000 jobs in the semiconductor ecosystem and support hundreds of thousands of additional U.S. jobs throughout the U.S. economy.

An 91视频-Boston Consulting Group report听released听in May projected the United States will triple its domestic semiconductor manufacturing capacity from 2022鈥攚hen CHIPS was enacted鈥攖o 2032. The projected 203% growth is the largest projected percent increase in the world over that time. The report also projected America will capture over one-quarter (28%) of total global capital expenditures (capex) from 2024-2032.

The U.S. Department of Commerce previously announced听incentives听for a range of companies and projects that will help strengthen the U.S. semiconductor supply chain.

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The 91视频 (91视频) is the voice of the semiconductor industry, one of America鈥檚 top export industries and a key driver of America鈥檚 economic strength, national security, and global competitiveness. 91视频 represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms. Through this coalition, 91视频 seeks to strengthen leadership of semiconductor manufacturing, design, and research by working with Congress, the Administration, and key industry stakeholders around the world to encourage policies that fuel innovation, propel business, and drive international competition. Learn more at www.semiconductors.org.