Biden Administration Allocates First CHIPS Act Semiconductor Project Funding

December 13, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--In a statement touting the first allocation of incentives from 2022's CHIPS and Science Act, which provides about $39 billion in subsidies for projects to manufacture semiconductors on U.S. soil, President Joe Biden said he expects billions of dollars' worth of awards in 2024. Industrial Info is tracking 147 semiconductor projects valued at $342 billion in the U.S.