SIA - Semiconductor Industry Association
07/26/2024 | Press release | Distributed by Public on 07/26/2024 07:53
SIA Applauds CHIPS Act Incentives for Amkor Facility in Arizona
SIA Applauds CHIPS Act Incentives for Amkor Facility in Arizona
Friday, Jul 26, 2024, 9:00amby Semiconductor Industry Association
WASHINGTON-July 26, 2024-The Semiconductor Industry Association (SIA) today released the following statement from SIA President and CEO John Neuffer applauding semiconductor manufacturing incentives announced by the U.S. Department of Commerce and Amkor. The incentives, which are part of the CHIPS and Science Act, will support Amkor's advanced packaging operations in Arizona. The Commerce Department previously announced incentives for a range of companies and projects that will help strengthen the U.S. semiconductor supply chain.
"Today's Amkor announcement will strengthen U.S.-based advanced packaging operations-a critical step in the chip production process-while further expanding Arizona's booming semiconductor ecosystem and bringing more jobs and economic growth to the state. We commend Amkor for investing ambitiously in U.S.-based advanced packaging, which is an area that needs to be strengthened in the U.S. chip ecosystem, and we salute the U.S. Commerce Department for continuing to make impressive headway in getting CHIPS Act incentives out the door in a timely and effective manner. We look forward to continuing to work with leaders in government and industry to ensure the CHIPS Act delivers maximum benefits for America's economic strength, national security, and supply chain resilience."
The CHIPS Act's manufacturing incentives have sparked substantial announced investments in the U.S. In fact, companies in the semiconductor ecosystem have announced more than 80 new projects across 25 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 56,000 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, ranking second only to Taiwan (31%).
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