Taiwan Semiconductor Manufacturing Co (TMSC) is Building $12 Billion Facility in Arizona
Apple supplier TSMC is building a new U.S. chip plant, which will directly create 1,600 jobs in Arizona.
WASHINGTON – The Global Business Alliance (GBA) sent a letter to the 107-member Conference Committee on Bipartisan Innovation and Competition Legislation urging them to support the full funding included in the Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS for America Act).
“We believe the investments and incentives included in the CHIPS for America Act will help grow the U.S. economy, increase jobs in advanced manufacturing, strengthen our national security and assure the supply of critical components essential to virtually all sectors of the economy,” said Nancy McLernon, president and CEO of GBA.
According to most recent government data, international companies have created 69 percent of the new U.S. manufacturing jobs in the past five years. International companies employ nearly one in three U.S. workers in the semiconductor industry. U.S. employment at global companies in the semiconductor sector rose nearly 50 percent from 38,600 jobs to 57,700 jobs between 2015 and 2019, compared to a national increase of just over one percent from 183,200 workers to 185,200 workers for the same time period. In fact, numerous GBA members have recently made investments in the semiconductor manufacturing industry:
“The funding included under the CHIPS for America Act title would incentivize companies to continue these types of investments in the U.S. and meets the urgent need to increase domestic semiconductor production and address the national security, economic and supply chain vulnerabilities resulting from the current shortage,” said McLernon.
Read the full letter here.