Today, the recently passed CHIPs and Science Act was signed into law by President Joe Biden. The Greater Austin Chamber of Commerce applauds President Biden for swiftly signing this important legislation into law and equipping our American semiconductor industry with the tools needed to unleash its innovative potential. The CHIPs and Science Act will greatly benefit Central Texas by bringing significant new investment in semiconductor research, manufacturing, and design to our region. Federal incentives for semiconductor manufacturing will help Texas to retain global significance in innovation technology, provide critical national security safeguards for the U.S., and long-term certainty to the private sector regarding Federal policy on semiconductor manufacturing.

The Greater Austin Chamber of Commerce has the following statement on the signing of the CHIPS and Science Act into law. This statement can be attributed to Laura Huffman, President and CEO of the Austin Chamber of Commerce.

“We are excited that the CHIPS and Science Act is now law. It is a critical time to invest in American manufacturing of semiconductor chips. We appreciate Senator John Cornyn, Congressman Michael McCaul (TX-10), Congressman Lloyd Doggett (TX-35), and others for their leadership and support for this legislation.

“Almost all major electronic devices require semiconductors, from cars to smartphones to computer graphic cards. The lack of available chips has impacted American businesses and consumers. Passing the CHIPS and Science Act will help increase investment in chip production and allow us to meet the needs for semiconductors domestically.

“Our region is already a leader in semiconductor manufacturing. With additional federal incentives and investment, U.S. and Central Texas-based businesses can do even more to alleviate the global chip shortage, benefiting the entire tech sector and consumers. This legislation has the possibility to spur billions of dollars of investment from existing companies as well as new companies relocating to Austin.”