Mature node semiconductors are used by automakers and in medical devices. | Brian Kostiuk/Unsplash
Mature node semiconductors are used by automakers and in medical devices. | Brian Kostiuk/Unsplash
Gov. Gretchen Whitmer (D-MI) celebrated the signing of the CHIPS (Creating Helpful Incentives for the Production of Semiconductors for America) and Science Act into law.
The legislation will directly confront the chip crisis by lowering costs, protecting national security, boosting manufacturing, and creating and protecting thousands of jobs, according to a press release from the governor's office.
"I am thrilled that the CHIPS and Science Act has been signed into law," Whitmer said in the press release. "This historic, bipartisan legislation will empower Michigan workers, surge domestic manufacturing, and lower costs for consumers."
"The CHIPS and Science Act funds $52 billion in incentives to boost domestic semiconductor production and research," the press release noted. Approximately $2 billion of the funds is dedicated to incentivizing the production of mature node semiconductors, which are used by automakers and parts suppliers. These chips are also used in medical devices, agricultural machinery like farm tractors and combines, and radiation-proof chips required by the U.S. national defense industrial base.
Whitmer expressed her views soon after President Joe Biden officially signed the act into law.
"I am grateful to our congressional delegation for their leadership to get this done," she said. "The CHIPS and Science Act brings supply chains home, creates and protects tens of thousands of good-paying jobs, and lowers costs on everything from cars and electronics to household appliances. I signed an executive directive last week preparing Michigan to harness every possible resource from the law, and we will maximize its potential right here in Michigan. The CHIPS and Science Act will build on our economic momentum, and I will work with anyone to show the world that Michigan is the place to build the future. Let's keep moving forward."
Passage of the bill is being sold as a powerful new tool in Michigan's economic growth, according to the press release. The act will help the state attract long-term sustainable investments from global companies by spurring innovation and avoiding costly delays.
The Michigan Legislature, businesses, labor, and utilities joined forces with Whitmer in 2021 to pass bipartisan economic development legislation, the press release noted. This helped the state to receive a $7 billion investment from GM, which created 5,000 good-paying jobs. Ford invested $2 billion earlier this year, creating 3,200 jobs.
Alerts Sign-up