President
Biden hailed the investments and said that the supply chain crises during the COVID-19 pandemic have made Americans more aware of the issue. As a result, he has pushed for more semiconductor manufacturing to come back to
"As we saw during the pandemic, when factories that make these chips shut down around the world, the global economy literally comes to a screeching halt," Biden said. "More Americans have learned the phrase 'supply chain.' Well, guess what? The supply chain is going to start here and end here, in
The
The announcements highlight the recently signed Creating Helpful Incentives to Produce Semiconductors and Science Act, also known as CHIPS, that Biden signed into law in August, which provided financial incentives for companies to build semiconductors critical to many components today in
"
"As we tackle large-scale technological challenges in climate, energy, transportation and more, we must continue to invest in innovation and discovery because advanced technologies are key to solving these problems and driving economic prosperity, including better jobs, for millions of Americans."
"The site also is home to
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The investment provides a much needed victory for the President, who is dealing with the beginnings of a possible downturn in the economy. Job openings in August fell to their lowest levels since
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