US Commerce Secretary Gina Raimondo predicted state, local and private investors could swell the sum allocated to a programme to boost domestic chip production by around $100 billion, Reuters reported.
The government is mulling the CHIPS for America Act, which would provide a $52 billion pot to encourage chip manufacture in the US. Raimondo expects individual states to complement federal funding with their own monies, which, along with municipal and private investment, could take the total outlay to $150 billion.
Raimondo forecast up to ten new fabrication facilities could be built if the bill is passed. The money would be used to fund tax subsidies for R&D and chip production, along with a national semiconductor technology centre.
The bill was proposed by now US President Joe Biden in mid-2020, with the original sum of $50 billion increased by $2 billion earlier this month.
Operators including AT&T and Verizon, along with some of the biggest US chipmakers, are positive about the plan.
In March, Intel announced plans to invest $20 billion to build two new factories in the US.Subscribe to our daily newsletter Back