August 9, 2022 - Chairman Emeritus of the Associated Industries of Missouri Board of Directors Tony Reinhart, Ford Motor Company, attended the signing of the CHIPS and Science Act of 2022 at the White House today. The purpose of the $280 billion bipartisan bill is to boost domestic high-tech manufacturing and increase U.S. competitiveness over China.
Pictured above are Reinhart, T/CCI Manufacturing's Kara Dmirjian Huss, Illinois Governor J.B Pritzker, Nate Baguio of Lion Electric, and Rivian CEO Robert "RJ" Scaringe who were present at the bill signing today.
The CHIPS and Science Act of 2022 is meant to boost American semiconductor research, development and production. Semiconductor chips are critical components of most household appliances, all automobile products, most defense equipment, cellphones, computers - in fact most products used in our modern society. Chip shortages have lengthened delivery times for cars, trucks, appliances, etc. and driven up the cost of other goods that require them.
The White House also announced actions to "ensure expedient, responsible deployment of CHIPS and Science Act funding" by:
Coordinating federal agency permitting for high-tech manufacturing; and,
Considering recommendations by the President's Council of Advisors on Science and Technology (PCAST), some of which include forming a national microelectronics training network for semiconductor workforce development across academic institutions, including minority-serving institutions and community colleges; fostering innovation by reducing the barriers of entry to startups; recommending the development of a “chiplet platform” to enable startups and researchers to more rapidly innovate at lower cost; and setting a national semiconductor research agenda with fundamental research and grand challenges to, for example, build the first “zettascale supercomputer” which would be 1,000 times faster than the fastest supercomputer available today. The full PCAST semiconductors report will be released this fall.
According to a White House Fact Sheet, the CHIPS and Science Act will:
Bolster U.S. leadership in semiconductors by investing in research and development, manufacturing and workforce development;
Promote U.S. innovation in wireless supply chains;
Advance U.S. global leadership in technologies of the future, including artificial intelligence, biotechnology and computing;
Boost regional economic growth and development through regional innovation and technology hubs across the country;
Provide more science, technology, engineering and math (STEM) education and training opportunities; and,
Drive opportunity and equity for all Americans in STEM and innovation.