The Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS) and Science Act of 2022

The White House is investing in America to lead the world in Emerging Global Technology by becoming a leader in semiconductor research, development and production.

The focus of the CHIPS act will be to: 

• Create Regional Economic Growth and Development.  $10 billion for the creation of regional innovation and technology hubs across the country that will bring together state and local government, institutions of  higher education, labor unions, businesses, and community-based organizations to create regional partnerships to develop technology, innovation, and manufacturing sectors. The purpose of the hubs are to create jobs, support regional economic development and prepare communities to lead in high growth, high wage sectors (AI, advanced manufacturing, clean energy, etc.). 
• Provide STEM Opportunities to Americans to participate in good-paying skilled jobs. The act authorizes new and expanded investments in STEM workforce development and education and training from K-12 to community college, undergraduate, and graduate education.
• Drive opportunity and equity in STEM and Innovation. The CHIPS Act will expand access to increase diversity of learners, educators, and researchers at minority-serving and emerging research institutions, as well as broaden participation to include people of all backgrounds and experiences, driving the creation of a STEM educational system that benefits all of America.

The CHIPS and Science Act of 2022 allocates $280 billion in spending over the next 10 years, with the bulk ($200 billion) for scientific R&D.  The Act authorizes $174 billion over the next five years to federal sponsoring agencies - $81 billion to NSF, $67 billion to Department of Energy, $11 billion to US EDA, and $10 million to NIST.  

Sponsoring Agency websites:

NSF: https://new.nsf.gov/chips#funding

National Institute of Standards and Technology (NIST): https://www.nist.gov/chips

Department of State: https://www.state.gov/department-of-state-announces-plans-to-implement-the-chips-act-international-technology-security-and-innovation-fund/

US EDA Regional Technology and Innovation Hubs: https://www.eda.gov/funding/programs/regional-technology-and-innovation-hubs