On Friday, the Biden administration will declare that it has invested $5 billion in a public-private partnership to promote cutting-edge computer chip research and development.
Funding for the National Semiconductor Technology Center is provided by the Science and CHIPS Act. That 2022 law seeks to revitalize the US computer chip industry by providing targeted government assistance.
During a call previewing the financial pledge, Commerce Secretary Gina Raimondo told reporters, “We need to be building for the future, and that means making R&D investments.”
The center would train people about the industry and assist in funding the production and prototyping of new chips. Businesses claim that to benefit from the additional $39 billion that the government is providing to construct new and expanded computer chip facilities, they need a competent labor force.
According to Labor Department figures, the manufacturing of computer chips employs roughly 375,000 workers with an average salary of $82,830.
Government officials say that industry executives and interested parties will be at the White House on Friday for the announcement.
