Media Contact: Madeline Broas, madeline.broas [at] chips.gov (madeline[dot]broas[at]chips[dot]gov)
Today, the Biden-Harris Administration announced that the U.S. Department of Commerce and Intel Corporation have reached a non-binding preliminary memorandum of terms (PMT) to provide up to $8.5 billion in direct funding under the CHIPS and Science Act to strengthen the U.S. supply chain and re-establish American leadership in semiconductor manufacturing. Leading-edge logic chips are essential to the world’s most advanced technologies like artificial intelligence, and this proposed funding would help ensure more of those chips are developed and made domestically. As President Biden highlighted in his State of the Union, the CHIPS and Science Act is charting a new course to manufacture critical technologies in America, lead the world in innovation, and create good jobs here in the United States. This is the Department of Commerce’s fourth PMT announcement under the CHIPS and Science Act.
Over the course of the next five years, Intel expects its investments in the United States to exceed $100 billion, as it expands capacity and capabilities in Arizona, New Mexico, Ohio, and Oregon, estimated to directly create over 10,000 manufacturing jobs and nearly 20,000 construction jobs. The Biden Administration’s proposed CHIPS investment, coupled with Intel’s investment, would mark one of the largest investments ever announced in U.S. semiconductor manufacturing. The PMT also includes approximately $50 million in dedicated funding to develop the company’s semiconductor and construction workforce. This builds upon Intel’s own workforce investments, totaling over $250 million in the past five years, as well as its strong partnerships with local communities, community colleges, universities, Historically Black Colleges and Universities (HBCUs), and apprenticeship programs.
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