White House Announces $6.6B to Expand Microchip Manufacturing in U.S.

April 8th, 8:00 AM EDT

By NEWSnet Digital Team

Computer chip.

MGN via Piqsels

WILMINGTON, Del. (NEWSnet/AP) — The Biden administration on Monday pledged to provide up to $6.6 billion so a Taiwan semiconductor firm can expand facilities it is building in Arizona.

Gina Raimondo, Secretary of Commerce, said funding for Taiwan Semiconductor Manufacturing Co. means the company can expand two facilities in Phoenix and add a production hub.

Potential incentive include $50 million to help train the workforce in Arizona. Additionally, $5 billion of proposed loans would be available through CHIPS and Science Act.

Funding is connected with a 2022 law, known as CHIPS and Science Act, designed to revive U.S. semiconductor manufacturing.

The administration has promised billions of dollars to support construction of U.S. chip foundries and reduce reliance on suppliers in Asia.

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