CHIPS Act Finally Passes

Researched by Industrial Info Resources (Sugar Land, Texas)--With the continuation of the global semiconductor shortage, large firms such as Intel Corporation (NASDAQ:INTC) (Santa Clara, California) have planned new facilities to help alleviate the situation and provide relief for the U.S. from reliance on foreign suppliers.

However, some of these projects were stalled as the companies awaited passage of the CHIPS Act by the U.S. Congress. The measure contains $52 billion in assistance to these companies in order to boost domestic production of semiconductors. According to CNBC, Intel even canceled its July 22 scheduled groundbreaking ceremony for its Ohio Fab Complex to wait for the bill's passage. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing project and plant databases can click here for the project reports and click here for the plant profile.

Since then, the House of Representatives passed the CHIPS Act on July 28 after the measure cleared the Senate the previous day. It now heads to the desk of President Joe Biden, to be signed into law. For related information, see July 28, 2022, article - Bill to Inject Billions into U.S. Semiconductor Industry Nears Finish Line.

Including the Intel projects in Ohio, Industrial Info is tracking 84 semiconductor projects valued at $128 billion in the U.S. Subscribers can click here for a list of detailed project reports.

After the act becomes law, significant movement is likely to be seen on many of these projects, and others may start up.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).