First US Chips Act grant goes to Pentagon semiconductor supplier
The US Commerce Department has announced a $14 million grant to BAE Systems to quadruple chip production for F-15 and F-35 fighter jets at its facility in Nashua, New Hampshire. The move is part of the US government's efforts to reduce reliance on Asian countries for semiconductors. Secretary Gina Raimondo described the grant as relatively small and expects more announcements within the year, including funding for advanced chip-making facilities. BAE's Nashua facility is a key part of the military's semiconductor supply chain.
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Frequently Asked Questions
FAQ: First US Chips Act Grant for Pentagon Semiconductor Supplier
What is the CHIPS and Science Act?
The CHIPS and Science Act is a piece of legislation that was signed into law to revitalize U.S. semiconductor manufacturing. It provides funding and incentives to support and expand semiconductor production and research in the United States.
Who received the first major award from the CHIPS and Science Act?
New York received the first-ever major award from the CHIPS and Science Act, as announced by Senator Schumer and Governor Hochul. This is part of a federal investment aimed at bolstering New York's semiconductor industry.
How much is the first CHIPS Act grant worth?
While the South China Morning Post mentioned a "first US Chips Act grant goes to a Pentagon semiconductor supplier," the exact amount wasn't provided in the search fields. However, Deputy Secretary of Defense Kathleen Hicks announced $238 million in CHIPS and Science Act funding for the establishment of commons regional innovation hubs in semiconductors.
What are the conditions for recipients of the CHIPS Act funding?
According to a Bloomberg article, firms receiving grants from the $50 billion CHIPS and Science Act will be barred from using the funds to expand semiconductor manufacturing capacity in China or other foreign countries deemed a concern. This is to ensure that the funding boosts U.S. competitiveness without inadvertently helping potential adversaries.
What is the main goal of the CHIPS and Science Act funding?
The main goal is to revitalize and strengthen U.S. semiconductor manufacturing capacity, foster research and development in the sector, support national security, and alleviate global supply chain disruptions.
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