Biden Signs Semiconductor Bill, Spurring Hopes for New Jobs and Manufacturing Around the US – Route Fifty

by | Aug 9, 2022 | Jobs

Calling it a “once in a generation investment in America,” President Biden on Tuesday signed into law a $54.2 billion measure to boost semiconductor production in the U.S.Most notably, the bipartisan bill passed by Congress last month includes $39.4 billion in subsidies to encourage companies to manufacture chips, bolstering hopes in cities around the country that it will create more jobs in their communities.“It’s big,” Cleveland Mayor Justin Bibb told Route Fifty after attending the signing.Even before the subsidies were created, Intel announced in January it will be spending $20 billion to build two semiconductor plants in Columbus, Ohio, which the company said would create 3,000 jobs.With the infusion of billions more, Bibb said his city could see more jobs, not only through the construction of more plants but at the contractors the semiconductor manufacturers will need. In addition, the funding for semiconductor research in the bill is an opportunity for Case Western Reserve University and Cleveland State University in his city.“America and its cities are stronger, and our future is more secure, thanks to this law and its investments in science and semiconductor manufacturing,” Miami Mayor Francis Suarez, president of the U.S. Conference of Mayors, said in a statement. “These increases in research and in high-tech workforces are critical to the economic strength of cities across the country,” he said.In addition, the White House announced it is creating an interagency permitting working group to “ensure collaboration and coordination across federal agencies, the private sector, and with state and local governments to facilitate timely and effective reviews” of the projects funded by the bill.The Pres …

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