U.S. Commerce Secretary Gina Raimondo said making “strong investments” in domestic semiconductor technology and combatting the chip shortage will be a personal priority following a Thursday meeting with leaders of the Semiconductor Industry Association.
In a statement released Friday, Raimondo reiterated earlier comments of industry support by President Biden. “As the President said, the U.S. is the birthplace of this technology, but over the years we have underinvested in production and hurt our innovative edge, while other countries have learned from our example and increased their investment in the industry,” she said.
She didn’t reveal any specific commitments, but members of Congress and President Biden have publicly pronounced support for bills that would strengthen incentives for domestic chip manufacturing including tax deferrals for new plant construction. Biden also signed an executive order on Feb. 24 to address the chip shortage and other critical supply chains with a 100 day all-of-government review. He also said Congress needs $37 billion to address short term chip needs.
Raimondo said the meeting with SIA board members was productive. “Semiconductors are America’s fourth largest export and critical to our economic competitiveness and national security,” she said. “I believe we need to make strong investments in domestic manufacturing, research and workforce, and help strengthen America’s global leadership in semiconductor manufacturing and innovation.”
She called the meeting the beginning of an ongoing dialog with the industry to “find innovative ways to invest in domestic manufacturing.”
SIA board members include some of the top executives of the largest chipmakers in the world, including Intel, AMD, Analog Devices, Broadcom, IBM, Micron, Nvidia, Qualcomm, Texas Instruments and Xilinx.
Raimondo was confirmed by the Senate on March 2 by a vote of 84-15. She previously served as governor of Rhode Island starting in 2015, including a term as chair of the Democratic Governors Association. She holds a J.D. degree from Yale Law School.
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