SIA Commends CHIPS Act Incentives for GlobalFoundries Projects

by Semiconductor Industry Association

WASHINGTON—Feb. 19, 2024—The Semiconductor Industry Association (SIA) today released the following statement from SIA President and CEO John Neuffer in response to the semiconductor manufacturing incentives announced by the U.S. Department of Commerce and GlobalFoundries.

The incentives, which are part of the CHIPS and Science Act, will support three GlobalFoundries manufacturing projects in New York and Vermont. The Commerce Department previously announced incentives for Microchip Technology and BAE Systems.

“The significant semiconductor manufacturing incentives announced today will help advance U.S. chip production and reinforce America’s economic and national security. We congratulate GlobalFoundries for investing ambitiously in these projects and salute the Commerce Department’s ongoing work to begin getting critical CHIPS Act incentives out the door. The CHIPS Act is working, and SIA stands ready to continue to work with government leaders to ensure the law’s landmark manufacturing and research provisions deliver maximum benefits to U.S. chip production, innovation, and supply chain resilience for many years to come.”

The CHIPS Act’s manufacturing incentives have already sparked substantial investments in the U.S. In fact, companies in the semiconductor ecosystem have announced dozens of new projects across America—totaling more than $220 billion in private investments—since the CHIPS Act was introduced. These announced projects will create more than 40,000 jobs in the semiconductor ecosystem and support hundreds of thousands of additional U.S. jobs throughout the U.S. economy.

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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.