By Ovunc Kutlu
ISTANBUL (AA) - US President Joe Biden's administration announced on Friday it expects to invest over $5 billion in semiconductor-related research, development, and workforce needs, including in the National Semiconductor Technology Center (NSTC).
The investment is part of implementation of the CHIPS and Science Act and Biden's Investing in America agenda, the White House said in a statement.
The plan aims to advance Biden’s goals of driving research and development in the US, lower time and cost of commercializing new technologies, increase national security, and support workers in good semiconductor jobs, it added.
"Semiconductors were invented in America and serve as the backbone of the modern economy. But today, the United States produces less than 10 percent of global supply and none of the most advanced chips," said the statement.
"The NSTC, as the centerpiece of the CHIPS R&D program, will bring together and support government, industry, labor, customers, suppliers, educational institutions, entrepreneurs, and investors to accelerate the pace of new innovations, lower barriers to participation in semiconductor R&D, and directly address fundamental needs for a skilled, diverse semiconductor workforce."