FOR IMMEDIATE RELEASE:
JULY 28, 2022

Just over two years since an initial authorization amendment vote in the Senate, mySilicon Compass applauds final passage and enactment of the CHIPS Act as it heads towards President Biden’s desk and congratulates the many leaders that have played a role in its creation and passage along the way. Enactment of the bill will stimulate investments of semiconductor design; manufacturing; and assembly, test and packaging in the United States, as the chip industry adds tens of thousands of jobs to its ranks from coast to coast in the coming years. Advancements in workforce development and subsequent semiconductor R&D efforts will continue to propel the industry forward. This increased domestic capacity will also bring indirect benefits to many end user applications, from the medical device industry, defense, and automotive, while spurring new industries fueled by AI and IoT.

Statement of Ian Steff, Former Assistant Secretary of Commerce and President & CEO of mySilicon Compass:

“Today we celebrate a historic moment in the passage of the CHIPS Act – a moment that secures America’s future in an industry that has and continues deliver immeasurable benefit to society, technological and economic growth, and U.S. critical infrastructure and security. This monumental initiative has transcended Administrations and received bipartisan support every step of the way. The significance of this accomplishment cannot be overstated, as today, July 28, 2022, the United States of America has decisively projected that we will choose to compete in the new era of innovation.”

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mySilicon Compass, LLC, is a strategic consulting practice that engages clients seeking to advance their technological competitiveness; grow international sales and market share; create, foster, and expand public-private technology partnerships; and expand jobs, advanced manufacturing, and research and development investments in emerging growth sectors in the United States.