Posted on 11/15/2024 6:57:38 AM PST by Cronos
The Biden administration said on Friday that it had completed an agreement to award Taiwan Semiconductor Manufacturing Company up to $6.6 billion in grants, as federal officials race to put in place their plans to boost U.S. chip manufacturing before the end of President Biden’s term.
The administration struck a preliminary agreement in the spring to provide TSMC with the funding, which will support three new factories in Phoenix. The government will give TSMC the money in tranches as the company meets milestones.
In a statement, Mr. Biden said that the foreign direct investment in the facilities was the largest for a new factory project in U.S. history, and that the announcement on Friday was “among the most critical milestones yet” in the rollout of his chips program.
The agreement “demonstrates how we are ensuring that the progress made to date will continue to unfold in the coming years, benefiting communities all across the country,” Mr. Biden said.
The administration is expected to finish more grant awards in the coming weeks. But the projects might come too late for Mr. Biden to receive much credit. Chip factories take years to build, and many of these projects will not break ground — or produce chips — until well into President-elect Donald J. Trump’s term.
Mr. Biden’s administration is working to cement its legacy with the grants as part of a $39 billion program to revitalize U.S. technology manufacturing and reduce reliance on foreign nations for critical semiconductors. The program is a pillar of the president’s economic policy, which has largely focused on bolstering American manufacturing.
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(Excerpt) Read more at nytimes.com ...
Jello can’t be cemented
The actions and work to establish TSMC (and other producers’) chip “fabs” in Arizona began long BEFORE the pretender Biden was installed in office.
Listen to the NYT babbling about Biden’s “legacy” of a few chip fabs. These poor suckers just can’t let go.
Wait, I thought the Dems were against “corporate welfare?”
Why?
They are a commercial organization. Let them hose their stockholders for the money, not the US taxpayers.
If the Biden Admin starts going wild and breaks any laws with all their giveaways etc they should be prosecuted
there will be hell Taipei, but the successor can always undo what the predecessor does (the Dems did it all the time)
The Big Guy’s keepers and other parasites are grabbing al the 10% they can before the adults take over.
Made n USA, it’s good for natl security, so I’m ok w this.
True, and it a good thing to bring chip production back to the US.
10% to the Big Guy =’s 600 million for the Biden Crime Family.
Intel used to be the best quality fab in the world and the Chandler AZ site was the best of the best.
Not anymore thanks to DEI which targeted Intel back in 2009.
The USA needs a reliable high performance fab on USA soil just in case....
TSMC is the best of the best and is Apple’s primary fab along with many other USA companies.
This is actually good for the USA
Probably yet another demonrat money laundering scam.
the so-called “chips back” program was applied in a different manner by the harris-pelosy-biden administration than was intended by the Trump administration. It was intended to win back manufacturing.. but was implemented to force DEI with weekly reports to the Feds regarding attendance, benefits, quantities of non qualified employees and contractors who were LGBTQX hires to be given special benefits.
It drove the major collapse of the largest chip makers in the USA because the administration of DEI crippled the profit margins and adminisration of High Tech manufacturers in the USA.
Biden implementation did (and still does) drive layoffs, cutbacks, salaries and benefits of middle aged, white, non queers (normies) in lieu of expanding administrative-government associated tracking adminstration structures that were designed LITERALY to benefit only the lgbtqx populace.
Unwinding it... will require several acts of congress...and an operation to hunt and terminate of the massive number of corporate governance imbed hires permanently wired into big tech mfg...
Note that this bill and implementation was passed with largely bi partisan support which conceptually started as Trump’s great idea... but was deformed, defiled and perverted by (build back better components from) the pelosi-biden-harris enclave shortly after trump was deposed in a coupe d’etats circa 2020. this is the socialist onslaught of ESG and DEI. It needs to be made illegal at a felony level.
No, but it can be rewarded in various ways.
Is that true? We did not hear of DEI that far back.
DEI is just different language for a process of “Affirmative Action” and quotas, and legal discrimination against majority classes of white males and Christians started under JFK generations ago.
Not sure that this is what DEI is? https://www.azfamily.com/2024/11/14/lawsuit-claims-anti-american-bias-discrimination-tsmc-arizona/
A rare case of Biden doing something good for American manufacutring.
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