Securing Semiconductor Supply Chains Act

Bill 119 s 97, also known as the "Semiconductor Manufacturing and Production Investment Coordination Act," aims to boost foreign direct investment in semiconductor-related manufacturing and production in the United States. The bill mandates that SelectUSA, a government program that promotes and facilitates foreign investment in the country, work closely with State-level economic development organizations to achieve this goal.

The semiconductor industry plays a crucial role in the US economy, as semiconductors are essential components in a wide range of products, from smartphones to cars. However, in recent years, the US has faced increasing competition from other countries in semiconductor manufacturing. By encouraging foreign investment in this sector, the bill seeks to strengthen the US semiconductor industry and maintain its global competitiveness.

Under the provisions of the bill, SelectUSA will collaborate with State-level economic development organizations to identify opportunities for foreign investment in semiconductor-related manufacturing and production. This coordination will help streamline the investment process and provide support to foreign investors looking to establish or expand their operations in the US. Overall, Bill 119 s 97 aims to leverage the expertise and resources of both SelectUSA and State-level economic development organizations to attract foreign investment in the semiconductor industry. By doing so, the bill seeks to create jobs, drive innovation, and enhance the US's position as a global leader in semiconductor manufacturing and production.