Vice President Kamala Harris highlights the critical role of semiconductors in modern technology and announces a significant investment in domestic semiconductor production. The Department of Commerce’s preliminary agreement with GlobalFoundries will bolster U.S. supply chains, create jobs, and enhance national security.
Semiconductors serve as the foundation of electronic devices, powering everything from computers to cars. Recognizing their essential role, the CHIPS and Science Act aims to strengthen semiconductor production within the United States, reducing dependence on overseas suppliers.
During discussions in Singapore in 2021, Vice President Harris engaged with GlobalFoundries executives, securing their commitment to support domestic supply chains. The preliminary agreement allocates $1.5 billion to facilitate the establishment of a new semiconductor facility in Malta, NY, and expand operations in New York and Vermont.
The investment is expected to generate over 10,000 jobs, including union construction positions with competitive wages and benefits. By fostering domestic semiconductor production, the initiative enhances supply chain stability for industries such as automotive and aerospace, fostering economic growth and opportunity across the nation.
President Biden and Vice President Harris reaffirm their dedication to fostering economic prosperity in all regions of the United States. The semiconductor investment exemplifies their commitment to revitalizing communities, promoting job creation, and strengthening national security through strategic domestic initiatives.
Vice President Harris’s announcement underscores the Administration’s commitment to advancing domestic semiconductor production, bolstering supply chain resilience, and fostering economic opportunity. By partnering with industry leaders like GlobalFoundries, the United States aims to lead in semiconductor innovation and manufacturing, ensuring a secure and prosperous future.
Source: Adapted from a statement by Vice President Kamala Harris issued by THE WHITE HOUSE.