Biden Administration Launches CHIPS Act Program to Address Domestic Semiconductor Labor Shortage

Jul 2, 2024, 11:38 AM

The Biden administration has initiated a program under the 2022 CHIPS and Science Act to address the critical workforce shortages in the domestic semiconductor industry. The program aims to stave off a labor shortage that could reach 90,000 workers by 2030. To draw more women into the semiconductor and construction industries, the CHIPS Act mandates companies to provide child care. The initiative will award between $500,000 to $2 million to as many as ten projects, with no set funding ceiling. The semiconductor industry is a cornerstone of modern technology and economic prosperity.