A Golden Opportunity for American Manufacturing

CHIPS Act Funding: Semiconductor Supply Chain Funding Round Now Open

As part of the CHIPS and Science Act landmark legislation, the U.S. Department of Commerce is now accepting pre-applications for companies investing in materials and/or manufacturing equipment facilities related to the semiconductor industry.  The first round of this new funding will be targeting large-scale projects of at least $300 million for the construction, expansion, or modernization of eligible facilities. 

Per the CHIPS Program Office’s “Vision for Success”, the primary mission of this program will be to:

  • Strengthen supply chain resilience

  • Advance U.S. technology leadership

  • Support vibrant U.S. fab clusters

Prospective applicants for the funding may submit pre-applications on a rolling basis, which commenced on September 1, 2023, and full applications beginning on October 23, 2023.  Similar to the initial Notice of Funding Opportunity for commercial fabrication facilities, the five-part application process will be:

  • Statement of interest

  • Pre-application (optional but recommended)

  • Full application

  • Due diligence

  • Award preparation and issuance

Funding will be evaluated on several core factors, including:

  • Economic and national security objectives

  • Commercial viability

  • Financial strength

  • Project technical feasibility and readiness

  • Workforce development

  • Broader impacts on community + economy

Soon to follow later in 2023, the Department of Commerce is expected to release a similar announcement for smaller projects with capital investment under $300 million.  Additional details regarding the application process will be available at that time.

If you’re business is planning to make significant capital investments in the overall supply chain of the growing semiconductor industry, the time is now to act.  Contact CHIPS Act experts on the Hickey team to begin your path to securing these funds today.

Secure your future. Start today.

Hickey Team

Hickey & Associates makes learning about commercial site selection easy. We share information in writing and through videos and images, covering topics like grants and incentives advisory, location strategy, and supply chain logistics. Our team helps you find the best places for your business, get financial benefits, and make your supply chain work better. We are here to make complicated things simple and beneficial for your business's growth.

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