SIA Applauds Finalization of CHIPS Incentives to Support Samsung’s Semiconductor Investments in Texas

by Semiconductor Industry Association

WASHINGTON—Dec. 20, 2024—The Semiconductor Industry Association (SIA) today released the following statement from SIA President and CEO John Neuffer commending finalization of CHIPS and Science Act manufacturing investments announced by the U.S. Department of Commerce and Samsung. The incentives will support Samsung’s investment to develop and produce leading-edge chips in Texas.

“Samsung’s ambitious semiconductor manufacturing and R&D investments in Texas, complemented by the CHIPS incentives announced today, mark an important step forward for leading-edge chip production and innovation in America. We commend Samsung for making these bold investments, which will create tens of thousands of jobs and drive significant economic growth, and we applaud the U.S. Commerce Department for continuing to promote critical CHIPS incentives.”

The CHIPS Act is on track to strengthen American manufacturing, create jobs, boost economic growth, and promote national security. The CHIPS Act’s manufacturing incentives have sparked substantial announced investments in the U.S. In fact, companies in the semiconductor ecosystem have announced 90 new projects across 28 U.S. states—totaling hundreds of billions of dollars in private investments—since 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 SIA-Boston Consulting Group report released in May projected the United States will triple its domestic semiconductor manufacturing capacity from 2022—when CHIPS was enacted—to 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 incentives for a range of companies and projects that will help strengthen the U.S. semiconductor supply chain.

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Media Contact
Dan Rosso
Semiconductor Industry Association
240-305-4738
drosso@semiconductors.org 

About SIA
The Semiconductor Industry Association (SIA) is the voice of the semiconductor industry, one of America’s top export industries and a key driver of America’s economic strength, national security, and global competitiveness. SIA represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms. Through this coalition, SIA 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.