President Biden championed a new 'workforce of the future' during a groundbreaking ceremony Friday for an Intel semiconductor plant in Licking County, Ohio.
Biden said bringing chip manufacturing back to the U.S. was not only important for job creation and supply chain stability but was a matter of national security.
"Here's the deal. America invented this chip. It powered NASA's moon mission," he said, adding that 30 years ago the U.S. was responsible for more than 30% of global chip production. "Companies moved jobs overseas, especially from the industrial Midwest, and, as a result, today we’re down to producing barely 10% of the world’s chips despite leading in chip research and design," he said.
President Biden signs into law the CHIPS and Science Act of 2022 on the South Lawn of the White House in Washington Aug. 9, 2022. Left to right: Founder and CEO of SparkCharge Joshua Aviv, Biden, Speaker of the House Nancy Pelosi and Secretary of Com to become a leading producer in semiconductors and has lobbied U.S. companies to manufacture chips overseas.
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