White House touts $11 billion US semiconductor R&D program
The White House on Friday touted the US government's plan to spend $11 billion on semi conduct or-related research and development and said it was launching the $5 billion National Semi conduct or Technology Center. Congress in August 2022 approved the landmark Chips and Science Act. The law provides that $52.7 billion, including $39 billion in subsidies for semiconductor production and $11 billion research and development. It also creates a 25% investment tax credit for building chip plants, estimated to be worth $24 billion. The centerpiece of the R&D program is the National Semi conduct or Technology Center, which will conduct research and prototyping of advanced semi conduct or Technology . The center is a "public private partnership that the government, industry customers, suppliers, academics, entrepreneurs, venture capitalists to come together to innovate, connect, network, solve problems and allow Americans to compete and out compete the world,...