Statement from President Joe Biden on CHIPS and Science Act Preliminary Agreement

Statement from President Joe Biden on CHIPS and Science Act Preliminary Agreement

Today marks a key milestone for our implementation of this historic law, as the Department of Commerce announced its first preliminary agreement with BAE Systems, Inc. for a CHIPS incentive award of approximately $35 million. When finalized, this award will modernize an aging facility to quadruple its production capacity for chips that are essential to our national security, including for use in F-35 fighter jets, that are produced in Nashua, New Hampshire by American workers. It will advance our national security goals, and it will spur local investment and job creation. 

 
Today’s announcement is the first step of many to come. Over the coming year, the Department of Commerce will award billions more to make more semiconductors in America, invest in research and development capabilities to keep America at the forefront of new technologies, strengthen our national security, and create good-paying jobs.