$50B US Chips Investment Would Boost GDP, Jobs: SIA Report
A $50 billion federal “investment program” to “incentivize” chipmaking would add $24.6 billion annually to the U.S. economy and create an average of 185,000 temporary U.S. jobs through 2026, reported the Semiconductor Industry Association and Oxford Economics Wednesday. The six-year…
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buildout would infuse $147.7 billion yearly cumulatively into the U.S. GDP, they said: The federal investment “can be expected to substantially increase the demand for talent within the semiconductor industry.” As more domestic investments in semiconductor R&D and manufacturing come online and increase production, “the industry will need to hire more workers in a range of occupations,” they said. The “enduring positive impact ... is an additional 280,000 new jobs,” with 42,000 of those in the domestic semiconductor industry. “This would boost U.S. semiconductor industry employment to 319,000 and its total jobs impact to 2.13 million in 2027.”