President Biden signed the bipartisan CHIPS and Science Act into law today. The $280 billion injection into American research and technology includes $52.7 billion to boost the semiconductor industry. The legislation also provides a 25% tax credit for U.S. facilities that produce semiconductors or chipmaking equipment.
The CHIPS and Science Act is a “once-in-a-generation investment in America itself,” President Biden said at today’s signing, which took place in the White House’s South Lawn among semiconductor industry leaders. The Act “super-charges our efforts to make semiconductors here in America. Those tiny computer chips, smaller than a fingertip, are the building blocks for a modern economy, powering everything from smartphones to dishwashers and automobiles.”
“Today is a historic day for our industry. Lam Research applauds the signing of the CHIPS and Science Act and the progress it represents,” says Lam Research President and CEO Tim Archer, who attended the signing ceremony. “The implementation of this legislation is beneficial for the semiconductor ecosystem and the U.S. innovation economy at large.”
Today nearly every chip in the world is built using Lam technology. With 35 locations in the United States, including five manufacturing facilities across California, Oregon, and Ohio, Lam is invested in the future of the semiconductor industry.
“Our industry provides tens of thousands of jobs in the U.S. across a broad range of disciplines, including nanoscale engineering, plasma physics, materials science, advanced robotics, and manufacturing,” Mr. Archer says. In the past two years alone, Lam has added 3,500 jobs in the U.S., from PhDs in plasma physics to highly skilled manufacturing technicians.
In March, Mr. Archer was invited by the U.S. Senate to speak about American competitiveness in the semiconductor industry.