SIA Applauds CHIPS Act Incentives for Texas Instruments Manufacturing Facilities

Friday, Aug 16, 2024, 12:00pm

by Semiconductor Industry Association

Preliminary agreement includes up to $1.6 billion in direct funding to support three 300mm semiconductor wafer fabs under construction in Texas and Utah

WASHINGTON-Aug. 16, 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. Commerce Department and Texas Instruments (TI).

The preliminary agreement includes up to $1.6 billion for TI in direct funding through the CHIPS and Science Act to support three 300mm semiconductor wafer fabs under construction in Texas and Utah. TI also expects to receive $10 million for workforce development. The projects will create over 2,000 new TI jobs and thousands of indirect jobs for construction, suppliers, and supporting industries.

"Today's announced incentives will help Texas Instruments boost domestic production of analog and embedded processing semiconductors while strengthening America's economy, national security, and supply chain resilience. The CHIPS incentives will help bolster U.S.-based fabrication of current-generation and mature-node semiconductors, supplementing TI's ambitious total investment of more than $18 billion through 2029. We commend TI and the Commerce Department for partnering to reinforce domestic semiconductor production and innovation and look forward to continuing to work with leaders in government and industry to ensure the CHIPS Act remains on track for success."

The Commerce Department previously announced incentives for a range of companies and projects that will help strengthen the U.S. semiconductor supply chain.

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%).

# # #

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.

Public link

Please use the above public link if you want to share this noodl on another website.