OHIO CHAMBER OF COMMERCE AND 17 BUSINESS ADVOCACY ORGANIZATIONS FROM ACROSS THE COUNTRY URGE IMMEDIATE RELEASE OF CHIPS ACT FUNDS In November, the Ohio Chamber of Commerce led a group of 18 business organizations from four states across the country in sending a letter to President Biden and the U.S. Department of Commerce urging the immediate distribution of federal funds authorized by Congress to reshore and expand domestic semiconductor chip manufacturing. Since passage of the CHIPS and Science Act (“CHIPS Act”) over two and a half years ago, multiple businesses have created new production facilities, expanded existing facilities, and entered into development agreements with federal, state and local government agencies to increase American manufacturing and guard against future supply chain disruptions in an industry critical to American national security and economic growth. The signatory business organizations press the Administration to “remove any roadblocks that may exist, ensuring that the funds highlighted as critical to the success of the objectives of these laws are delivered as promptly as possible.” In addition to the Ohio Chamber of Commerce, the following organizations join the letter to the Biden Administration: Oregon Business & Industry, New Mexico Chamber of Commerce, The Business Council of New York State, Ohio Council of Retail Merchants, Ohio Business Roundtable, Oregon Business Council, Technology Association of Oregon, Ohio Hotel and Lodging Association, Ohio Home Builders Association, Ohio Society of CPAs, Ohio Pharmacists Association, Ohio Auto Dealers Association, Ohio REALTORS, Ohio Chemistry Technology Council, Ohio Bankers League, Rio Rancho Regional Chamber of Commerce (NM), and Sandoval Economic Alliance (NM).
The full letter can be viewed here.
After sending the letter, the Chamber was pleased that the $7.8 billion of CHIPS funding was released to Intel on November 20, 2024. “The announcement in late 2024 of the release of $7.8 billion of CHIPS funding to Intel strengthens America’s national security and makes microchip manufacturing viable in the U.S. It's a great day to be a Buckeye,” said Steve Stivers, President & CEO of the Ohio Chamber of Commerce. “The Ohio Chamber would like to thank Intel for their commitment to Ohio, the Silicon Heartland, where we still make things every day. “We would also like to thank the Biden Administration, Secretary Raimondo, and the CHIPS Office led by Mike Schmidt for the thousands of hours of work it took to make this announcement happen. “We look forward to working with the incoming administration to continue the imperative mission of the CHIPS Act, to improve our national and economic security by making more microchips in the U.S.”
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