The Biden administration has announced a $5 billion investment in a new public-private consortium focused on advancing computer chip research and development. The funding for the National Semiconductor Technology Center comes from the CHIPS and Science Act, a law passed in 2022 to boost the computer chip sector in the United States with targeted government support.
Industry stakeholders gathered at the White House to discuss the center’s priorities, including research and worker training. The COVID-19 pandemic highlighted the risks of relying too heavily on Taiwan for advanced chips, while the growing demand for artificial intelligence is expected to drive the need for more innovative chips.
Commerce Secretary Gina Raimondo emphasized the importance of this investment, stating that it marks an inflection point in the industry. The center will support the design and prototyping of new chips, as well as provide training for workers in the sector.
Companies in the industry have expressed the need for a skilled workforce to take advantage of the $39 billion government funding for new and expanded computer chip plants. Raimondo assured that there will be a steady stream of funding announcements for companies in the coming months.
As the sector grows, there will be an increasing demand for highly specialized workers. According to Labor Department data, around 375,000 people are currently employed in chip production, with an average income of $82,830.
President Joe Biden also made remarks on his handling of classified documents during a separate event on Thursday.