WASHINGTON : The U.S. Commerce Department said on Wednesday that more than 460 companies have expressed interested in winning government semiconductor subsidy funding in a bid to boost the country's competitiveness with China's science and technology efforts.The White House is marking the one-year anniver
WASHINGTON : The U.S. Commerce Department said on Wednesday that more than 460 companies have expressed interested in winning government semiconductor subsidy funding in a bid to boost the country's competitiveness with China's science and technology efforts.
The Commerce Department began accepting applications in June for the $39-billion subsidy program for U.S. semiconductor manufacturing as well as equipment and materials for making chips but has not yet issued awards. The chips law also includes a 25 per cent investment tax credit for building chip plants, estimated to be worth $24 billion.
The department is also seeking to ensure China will not benefit from U.S. funding and is requiring companies seeking major awards provide access to affordable high-quality childcare and share any excess profits.
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