This massive investment aims to support President Biden's agenda of driving research and development in the United States, promoting national security, and creating job opportunities in the semiconductor industry.

Semiconductors, which serve as the backbone of the modern economy, were initially invented in America. However, the United States currently produces less than 10 percent of the global supply and none of the most advanced chips. Recognizing the importance of investing in innovation, the Biden-Harris Administration is determined to reverse this trend.

Under the CHIPS and Science Act and the President's Investing in America agenda, these investments will not only strengthen U.S. leadership in semiconductor research and development but also reduce the time and cost required to commercialize new technologies. Furthermore, the funding will directly support the workforce in securing high-quality semiconductor jobs.

The main focus of the investments will be the National Semiconductor Technology Center (NSTC), which has been established as a public-private consortium. The NSTC will bring together government, industry, labor, customers, suppliers, educational institutions, entrepreneurs, and investors to accelerate innovation, lower barriers to participation in semiconductor research and development, and meet the growing need for a diverse and skilled semiconductor workforce.

Today, the White House hosted research and development and workforce convenings, where several milestones were announced to drive U.S. leadership in cutting-edge semiconductor research. These milestones include plans to invest at least $5 billion in the NSTC, along with the announcement of research priorities for 2024 and the launch of the NSTC Community of Interest program.

Additionally, the Biden-Harris Administration plans to invest hundreds of millions of dollars in the NSTC's workforce efforts, which will include the creation of a Workforce Center of Excellence with multiple regional presence. This initiative will focus on creating equitable training pathways, connecting Americans to lucrative jobs in critical industries, and leveraging investments made by industry, academia, and other education partners.

Furthermore, the Administration intends to invest in other key research and development needs of the semiconductor industry. The Department of Commerce will allocate funds for the establishment of a CHIPS Manufacturing USA Institute, which will serve as a digital twin institute for semiconductor manufacturing. This innovative platform will allow researchers and manufacturers to replicate and experiment with physical manufacturing processes at a lower cost, aiding in reducing chip development and manufacturing costs.

The Department of Commerce will also fund new research and development activities in advanced packaging of substrates and substrate materials, essential for improving system performance and supporting a wide range of semiconductor applications. Additionally, over $100 million in funding has been awarded to 29 projects through the CHIPS Metrology program, focusing on developing measurement instruments, methods, and models for advanced microelectronics design and manufacturing.

With these investments, the Biden-Harris Administration aims to build on the progress made in advancing research, development, and innovation in the United States. By catalyzing the growth of innovation ecosystems, supporting regional tech hubs, and fostering collaboration between government, industry, academia, and labor, the Administration is determined to regain America's position as a global leader in semiconductor technology.

The extensive investments in semiconductor research, development, and workforce needs not only align with President Biden's agenda but also have the potential to drive economic growth, bolster national security, and create opportunities for American workers. With the roadmap set for the NSTC and other key programs, the United States is poised to reclaim its position at the forefront of semiconductor innovation.