SIA Applauds CHIPS Act Incentives for Corning and Powerex - Semiconductor Industry Association

by Semiconductor Industry Association

WASHINGTON—Nov. 8, 2024— The Semiconductor Industry Association (SIA) today released the following statement from SIA President and CEO John Neuffer applauding semiconductor manufacturing incentives announced by the U.S. Department of Commerce for Corning and Powerex.

The incentives, which are part of the CHIPS and Science Act, will supplement company investments in the U.S. that will create jobs, strengthen the economy, and help shore up the domestic semiconductor supply chain. One agreement will promote the expansion of Corning’s High Purity Fused Silica and EXTREME ULE Glass manufacturing facility in New York. The other agreement will support the modernization and expansion of Powerex’s semiconductor packaging facility in Pennsylvania.

“Today’s announced incentives will help build resiliency in the U.S. semiconductor supply chain and bolster domestic manufacturing, while also advancing America’s economy, national security, and global competitiveness. Corning’s expanded facility will produce advanced materials that improve performance and efficiency in semiconductor lithography, enhancing U.S. leadership in this bedrock component of the supply chain.

“Powerex’s expanded facility will provide crucial U.S. industrial and defense packaging, reinforcing this critical capability on American shores. We applaud Corning and Powerex for investing ambitiously in the U.S. semiconductor supply chain and commend the U.S. Department of Commerce for continuing to diligently advance CHIPS incentives.”

The CHIPS Act is on track to strengthen American manufacturing, create jobs, boost economic growth, and promote national security. The CHIPS Act’s manufacturing incentives have sparked substantial announced investments in the U.S. In fact, companies in the semiconductor ecosystem have announced 90 new projects across 28 U.S. states—totaling hundreds of billions of dollars in private investments—since the CHIPS Act was introduced. These announced projects will create more than 58,000 jobs in the semiconductor ecosystem and support hundreds of thousands of additional U.S. jobs throughout the U.S. economy.

An SIA-Boston Consulting Group report released in May projected the United States will triple its domestic semiconductor manufacturing capacity from 2022—when CHIPS was enacted—to 2032. The projected 203% growth is the largest projected percent increase in the world over that time. The report also projected America will capture over one-quarter (28%) of total global capital expenditures (capex) from 2024-2032.

The U.S. Department of Commerce previously announced incentives for a range of companies and projects that will help strengthen the U.S. semiconductor supply chain.

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