Commerce Dept. issuing aid to build computer chip plants

KIFI

Published February 28, 2023 3:30 AM

By JOSH BOAK
Associated Press

WASHINGTON (AP) — The Commerce Department is opening the application process for computer chip manufacturers to access $39 billion in government support to build new factories and expand production. The funding is part of the CHIPS and Science Act, which President Joe Biden signed into law last August. The money will be available as grants, loans and loan guarantees. The effort is designed to sharpen the U.S. edge in military technology and manufacturing. It’s also aimed at minimizing the kinds of supply chain disruptions that occurred in 2021, when a shortage of chips shut down factory assembly lines and fueled inflation.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.