A recent report by an economic think tank in Washington highlights the potential impact of the 2022 CHIPS and Science Act on semiconductor production in the United States. The law, championed by President Joe Biden, aims to boost domestic manufacturing of computer chips and reduce reliance on foreign-made semiconductors.
The Peterson Institute for International Economics study indicates that the $280 billion legislation will lead to a significant rise in semiconductor production within the country. It is projected to create around 93,000 construction jobs during the establishment of chip factories and an additional 43,000 permanent jobs once operations commence.
