Tracking the CHIPS Incentives Program Awards
Last updated November 14, 2024
The CHIPS Act’s manufacturing incentives have sparked substantial investments in the U.S. In fact, companies in the semiconductor ecosystem have announced dozens of new projects across America—totaling nearly $450 billion in private investments—since the CHIPS Act was introduced. These announced projects will create more than 56,000 jobs in the semiconductor ecosystem and support hundreds of thousands of additional U.S. jobs throughout the U.S. economy.
Thus far, the CHIPS Program Office (CPO) has announced $33.7798 billion in grant awards and up to $28.8 billion in loans to 23 companies across 35 projects in 20 states. These projects include total investment of more than $380 billion over two decades, with the vast majority invested by 2030. The projects are also expected to create over 128,000 new jobs – over 42,000 manufacturing jobs and over 84,000 construction jobs. Additional award announcements are expected in the months ahead. The announcements thus far are for a preliminary memorandum of terms (PMTs), which is a non-binding agreement between companies and the CHIPS Program Office. A due diligence stage follows a PMT, after which a final award agreement will be reached. As milestones of the projects are achieved, funds will be disbursed.
The Departments of Defense and Commerce issued a joint statement on Sept. 16 announcing Intel as the recipient of up to $3 billion in CHIPS funding for the “Secure Enclave” program, which “will support the manufacturing of microelectronics and ensure access to a domestic supply chain of advanced semiconductors for national security.”
SIA looks forward to working with the Commerce Department to ensure the CHIPS Act is implemented in an effective, efficient, and timely manner. Doing so will help reinvigorate U.S. chip production and innovation and deliver major benefits for America’s economy, job creation, national security, supply chain resilience, and technology leadership.
SIA will update this webpage with the latest developments in the CHIPS incentives program as new announcements are made regarding awards to commercial fabrication facilities, facilities for the manufacturing of semiconductor equipment and materials, and R&D facilities.
