Semiconductor makers wait for checks one year after Biden signs CHIPS Act
A year after President Joe Biden signed the CHIPS and Science Act into law, the U.S. semiconductor industry is still waiting on the windfall.
The federal subsidies are meant to help offset the higher cost of building these manufacturing hubs, but so far, no funding set aside by the legislation has been awarded. Integra Technologies, for example, which provides semiconductor packaging and other services, plans to build a 1-million-square-foot facility in the Wichita, Kansas, area, provided it can receive the federal funding.
The company expects to hire 700 new employees, but remains in the planning stage, unable to break ground until it knows if the project would receive federal funding, and how much. As companies await the federal dollars, many larger semiconductor firms have opened their coffers to begin expansion. Intel, Taiwan Semiconductor Manufacturing Company and silicon carbide producer Wolfspeed have all hired workers and started construction despite not receiving any federal CHIPS Act funding.
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