Joe Biden announced an investment of $5 billion in semiconductor-related research and development, including plans to establish a National Semiconductor Technology Center (NSTC).
*The statement explains that the NSTC will cover the design, prototyping and testing of the latest semiconductor technologies. The public-private alliance will use shared facilities and expertise to provide critical capabilities while developing and sustaining the semiconductor workforce.
The U.S. Department of Commerce (DOC) explained that the NSTC will also "lower barriers to participation in semiconductor R&D to create a more vibrant national ecosystem."
The latest semiconductor-related investments are funded by the CHIPS and Science Act, which sets aside $52 billion to boost the domestic semiconductor industry as the U.S. seeks to better compete with China and address the global semiconductor shortage.
In addition to the NSTC, the legislation provides a total of $11 billion in funding to advance projects covering manufacturing, chip metrology, and the National Manufacturing Institute.
Commerce Secretary Gina Raimondo said, "Strategic investments in R&D complement targeted industry incentives, and U.S. chips will not only bring semiconductor manufacturing back to the U.S., but will stay in the U.S. forever."
Reuters reported that the U.S. Department of Defense plans to announce several large awards in the coming months to fund chip manufacturing.