(Reuters) - Contract chipmaker GlobalFoundries said on Monday it has submitted applications for funding under the U.S. CHIPS act to expand capacity and ...
- Contract chipmaker GlobalFoundries said on Monday it has submitted applications for funding under the U.S. CHIPS act to expand capacity and modernize its local manufacturing facilities.SaltWire's Atlantic regional weather forecast for September 25, 2023 | SaltWire - Contract chipmaker GlobalFoundries said on Monday it has submitted applications for funding under the U.S. CHIPS act to expand capacity and modernize its local manufacturing facilities.
The CHIPS and Science Act provides a total of $52.7 billion in subsidies for U.S. semiconductor production, research and workforce development. It also includes a 25% investment tax credit for building chip plants estimated to be worth $24 billion. "This federal support is critical for GF to continue growing its U.S. manufacturing footprint, strengthening U.S. economic security, supply chain resiliency, and national defense," senior executive Steven Grasso said in a statement.
The U.S. Commerce Department had said in August more than 460 companies expressed interest in winning government semiconductor subsidy funding in a bid to boost the country's competitiveness with China's science and technology efforts. Malta, New York-based GlobalFoundries makes wireless connectivity chips used in mobile phones, WiFi routers and radio towers. Its customers include the U.S. aerospace and defense firms, including Lockheed Martin.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chipmaker GlobalFoundries seeks funding under CHIPS ActThe CHIPS and Science Act provides a total of $52.7 billion in subsidies for U.S. semiconductor production, research and workforce development. 'This federal support is critical for GF (GlobalFoundries) to continue growing its U.S. manufacturing footprint, strengthening U.S. economic security, supply chain resiliency, and national defense,' senior executive Steven Grasso said in a statement. The U.S. Commerce Department had said in August more than 460 companies expressed interest in winning government semiconductor subsidy funding in a bid to boost the country's competitiveness with China's science and technology efforts.
Read more »
Leafs Ice Chips: Boucher creates chaos on the power playThe Maple Leafs had the second ranked power play last year and they're only looking to improve on it this season. As Mark Masters reports, new assistant coach Guy Boucher is using some new tricks to help build on the already successful PP.
Read more »
Blaze in two buildings an act of arson: CopsA fire in two buildings in the city\u0027s east was the result of arson, according to Toronto Police.
Read more »
P.E.I. names new French Language Services Act complaints officerCHARLOTTETOWN, P.E.I. — Julie Gilman has taken the reigns as the new complaints officer for P.E.I.’s French Language Services Act. Gilman stepped into the ...
Read more »
Globe editorial: A new era of competition law dawns in CanadaOttawa says it plans ‘comprehensive legislative reforms’ to the Competition Act in the coming months
Read more »