91成人

91成人 Applauds Finalization of First CHIPS Award for Polar Semiconductor

by 91成人

WASHINGTON鈥擲ept. 24, 2024鈥擳he 91成人 (91成人) today released the following statement from 91成人 President and CEO John Neuffer applauding the first finalized agreement to allocate incentives under the CHIPS and Science Act. The agreement between Polar Semiconductor and the U.S. Department of Commerce will support the expansion of Polar鈥檚 chip production capabilities in Minnesota.

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

鈥淲e applaud Polar Semiconductor and the U.S. Department of Commerce for working diligently to finalize this agreement, which represents a key milestone in the implementation of the historic CHIPS and Science Act. We are encouraged by the progress being made to get critical CHIPS awards out the door and directed to projects promoting U.S.-based semiconductor production and innovation. And we hope today鈥檚 final award is the first of many more to come over the next weeks and months. We look forward to continuing to work with leaders in industry and government to ensure the CHIPS Act delivers maximum benefits for America鈥檚 economic and national security.鈥�

As previously announced in May, the incentives related to this agreement will allow Polar to double its U.S. fabrication capacity of sensor and power chips within two years and serve diverse market segments. As part of the announcement, Polar Semiconductor is also transitioning to become a U.S. majority-owned commercial foundry.

The CHIPS Act鈥檚 manufacturing incentives have sparked substantial announced investments in the U.S. In fact, companies in the semiconductor ecosystem have聽announced聽more than 90聽new projects聽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成人-Boston Consulting Group report聽released聽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.

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91成人 91成人
The 91成人 (91成人) 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成人 represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms. Through this coalition, 91成人 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聽www.semiconductors.org.