Biden administration to provide $1.5 billion for new computer-chip factory in New York as part of efforts to boost domestic semiconductor production

The Biden administration plans to provide $1.5 billion for a new computer-chip factory in New York as part of the Chips and Science Act, aiming to bolster U.S. semiconductor production. The grant will support GlobalFoundries in building a fabrication facility and expanding existing plants to address concerns over chip supply chain security and maintain global competitiveness. Senate Majority Leader Charles E. Schumer highlighted the significance of the investment in fostering American adaptability and competitiveness.

the biden administration's plan

The Biden administration plans to provide $1.5 billion for a new computer-chip factory in New York as part of the Chips and Science Act, aiming to bolster U.S. semiconductor production. The grant will support GlobalFoundries in building a fabrication facility and expanding existing plants to address concerns over chip supply chain security and maintain global competitiveness.

senate majority leader's view

Senate Majority Leader Charles E. Schumer highlighted the significance of the investment in fostering American adaptability and competitiveness.