A year ago it seems ReutersThe President of the United States signed the so-called “Chip Act”, which provides for a total of 52.7 billion US dollars in subsidies for the national semiconductor industry. Applications from applicants were only accepted in June this year, applications have already been received from 460 companies, but government agencies have not yet started distributing funds.
As US Secretary of Commerce Gina Raimondo explained to the country’s authorities “It’s important to act fast, but it’s even more important to act right”. In fact, a year has passed since the law was signed, during which a team of more than 140 people worked to establish the necessary rules and criteria for the selection of grant applicants. US President Joseph Biden said on the occasion that semiconductor projects in the country over the past year have shown companies willing to spend up to $166 billion.
Authorities are ready to provide up to $39 billion in subsidies directly to help build chip-making companies in the US. Another approximately $11 billion will go toward establishing the National Center for Semiconductor Technologies. The location has not yet been determined, but will serve the interests of American companies in the field of research and development. A 25% tax deduction for setting up chip-making companies would give US authorities an additional $24 billion in lost taxes. According to the US Department of Commerce, the Department is actively negotiating with potential subsidy recipients and progress in this area will be announced in the coming months.