The CHIPS and Science Act provides, in part, $52.7 billion for American semiconductor research, development, manufacturing, and workforce development. This includes $39 billion in manufacturing incentives, including $2 billion for the legacy chips used in automobiles and defense systems, $13.2 billion in R&D and workforce development, and $500 million to provide for international information communications technology security and semiconductor supply chain activities. It also provides a 25 percent investment tax credit for capital expenses for manufacturing of semiconductors and related equipment.
These incentives will secure domestic supply, create tens of thousands of good-paying, union construction jobs and thousands more high-skilled manufacturing jobs, and catalyze hundreds of billions more in private investment. The Department of Energy (DOE), National Science Foundation (NSF), Department of Energy, and the Department of Commerce (DOC) will play an active role in creating funding opportunities for industries relevant to the CHIPS and Science Act.