Statement on the First Anniversary of the CHIPS and Science Act

One year ago today, I signed into law the bipartisan CHIPS and Science Act to revitalize American leadership in semiconductors, strengthen our supply chains, protect our national security, and advance American competitiveness.

America invented semiconductors, and today, they power everything from cell phones to cars to refrigerators. But over time, the United States went from producing nearly 40 percent of the world's chips to just over 10 percent, making our economy vulnerable to global supply chain disruptions.

The CHIPS and Science Act aims to change that.

In the year since I signed this legislation into law, companies have announced over $166 billion to bring semiconductor manufacturing back to the United States. These investments are creating jobs and opportunities in communities across the country, from Ohio to Arizona, Texas, and New York. And, in the last year alone, at least 50 community colleges have announced new or expanded programs to help American workers access good-paying jobs in the semiconductor industry.

The CHIPS and Science Act is a key part of my Bidenomics agenda to bring investment and opportunity to every corner of the country. Over the coming months, my administration will continue to implement this historic law, make sure American union workers, small businesses, and families benefit from investments spurred by the CHIPS and Science Act, and make America once again a leader in semiconductor manufacturing and less dependent on other countries for our electronics or clean energy supply chains.