What would you do with $8 billion? Most of us can’t even comprehend what that amount of money would look like, let alone what it would buy. For major international companies, however, those kinds of figures are business as usual.
Take Intel, for example. The semiconductor manufacturer recently received news that it will be receiving nearly $8 billion in federal grant money to expand its semiconductor manufacturing capabilities in the United States.
The funding comes from the CHIPS and Science Act, a key piece of legislation that has served as a catalyst to reinvigorate the semiconductor manufacturing industry in the wake of the COVID-19 pandemic. As a result, semiconductor manufacturing in the United States is surging.
Unfortunately, with a new administration set to take the helm in January 2025, future funding is uncertain at best. President-elect Donald Trump and his allies in Congress have been vocal in their criticism of the CHIPS and Science Act, putting forth proposals for new tariffs in lieu of subsidizing domestic industry partners.
With an uncertain future ahead, the current administration has pushed for additional CHIPS and Science Act funding to be awarded in the coming weeks before President Biden leaves office. For example, in a recent CNBC article, author Rohan Goswami notes that recently “[c]hipmaker Intel and the CHIPS and Science Act office finalized a $7.86 billion grant.”
As impressive as that amount is, it was supposed to be even larger. However, the administration reduced the grant by approximately $500 million in light of the fact that Intel had already received CHIPS Act funds in the form of a “$3 billion contract with the Department of Defense.”
Intel plans to use the grant money to ramp up its “factory-building efforts.” According to Commerce Secretary Gina Raimondo, “our CHIPS award is enabling Intel to drive one of the most significant semiconductor manufacturing expansions in U.S. history.”
Intel isn’t the only company benefiting from CHIPS Act funding. According to Goswami, “[t]he U.S. awarded Taiwan Semiconductor Manufacturing Co. a $6.6 billion grant” recently. “The Biden administration and grant awardees have touted the legislation as a job-creating machine.”
If the CHIPS Act funding succeeds in stimulating major job creation throughout the semiconductor manufacturing industry, companies receiving funds need to ensure that they’re dedicating part of those funds to creating a talent pipeline that will supply the highly skilled workers that will be needed in the years to come.
For those interested in establishing a pipeline of skilled talent for future semiconductor manufacturing facilities, the task of training the next generation of semiconductor technicians might seem like a daunting challenge. Fortunately, educational institutions and industry partners don’t need to recreate the wheel.
Amatrol’s unique combination of real industrial training equipment paired with cutting-edge eLearning curriculum can be used to create a modern semiconductor technician training program that will set up students and workers for success.
With over 30 years of experience, Amatrol remains the world’s leader in technical education. The experts at Amatrol regularly guide educational institutions and industry clients through the process of customizing training programs to achieve specific goals.
For more information about how Amatrol can help you inspire and train the next generation of semiconductor manufacturing workers, visit the Amatrol website to download the Amatrol 2024 Semiconductor Manufacturing Career Playbook.
