Resources provided through the bipartisan CHIPS and Science Act will support construction and expansion of semiconductor production facilities
WASHINGTON - U.S. Senator Amy Klobuchar (D-MN), a member of the Senate Commerce Committee, announced that the U.S. Department of Commerce has launched its application period for companies seeking federal funding through the CHIPS and Science Act to construct, expand, or modernize semiconductor production facilities. The bipartisan CHIPS and Science Act, which Klobuchar strongly supported and was signed into law last year, provides significant federal resources to strengthen domestic semiconductor production and boost American competitiveness and innovation.
“If we want to continue leading the global economy, we must be a state and a country that makes stuff, invents things, and exports to the world. Through landmark investments in domestic semiconductor production and scientific research, the bipartisan CHIPS and Science Act will help bolster our competitive edge in the global economy,” said Klobuchar. “I encourage all interested to apply for CHIPS for America funding and ensure that Minnesota continues leading on technological innovation and semiconductor chip production for decades to come.”
CHIPS for America resources will be provided through direct funding, federal loans, and/or federal guarantees of third-party loans. These investments are designed to complement private investment and other sources of funding. The Department of Commerce will also release funding opportunities for semiconductor materials and equipment facilities in the late spring, and for research and development facilities in the fall. More information about the funding application and evaluation process is available HERE.
The CHIPS and Science Act will:
- Help companies build, expand, or modernize domestic facilities and equipment for semiconductor production;
- Kick start development of the domestic semiconductor workforce and address near-term labor shortages; and
- Make the largest five-year investment in public research and development in the nation’s history, including in critical technologies such as artificial intelligence and advanced manufacturing, as well as boosting STEM education and regional technology hubs.
Last August, Klobuchar held a press conference in Bloomington with executives from leading U.S.-based semiconductor designers and manufacturers with operations or headquarters in Minnesota to highlight how the CHIPS and Science Act will strengthen American economic competitiveness and spur innovation.