Small biz & CHIP applications

The United States’ semiconductor chip manufacturing output has been steadily slipping over the last 20+ years, jeopardizing the country’s power in an increasingly critical global industry, but a key piece of legislation, the CHIPS and Science Act of 2022, aims to rewrite this narrative. 

The CHIPS Act is investing $52.7B into the American semiconductor industry in an effort to bring manufacturing back home. Recently, the Biden administration expanded eligibility for CHIPS Act funding to include companies that create the tools and chemicals for producing chips, not just the major players. 

As of June 23, the CHIPS Act is accepting applications for the “construction, expansion or modernization of commercial facilities for semiconductor materials and manufacturing equipment facilities for which the capital investment equals or exceeds $300M,” according to the National Institute of Standards and Technology. 

With this expansion, nearly 400 firms have expressed interest, according to the Department of Commerce. 

Certain applications are now being accepted. Visit the NIST website for more information and to submit your application. (GovWire -06/28.23) How Small Businesses Can Secure a Portion of $53B CHIPS Act Funding - GovCon Wire