WASHINGTON — The U.S. Commerce Department opened applications Tuesday for $39 billion in funding for semiconductor chip manufacturing, kicking off unprecedented federal spending in the tiny component that's crucial for modern technology and vehicles.
Applicants seeking more than $150 million will also be required to show how they will provide construction and facility workers with "access to affordable, accessible, reliable and high-quality child care," the agency said, and share a portion of profits with the U.S. government if they exceed projections.
The funding is part of the CHIPS and Science Act, which passed with bipartisan support last year and also pumps $200 billion into scientific research.
