The Biden administration announced on Tuesday a $6.6 billion investment to help ensure the United States remains a global leader in producing leading-edge chips for the semiconductor industry. The funding, provided through the CHIPS and Science Act, aims to catalyze private investments and build a more resilient domestic industrial base for microelectronics production. It will support the construction of new facilities and expansion of existing semiconductor fabrication plants. The investments are expected to create tens of thousands of construction jobs and thousands of high-paying manufacturing jobs. The funding will also strengthen research and development in semiconductor materials, packaging tools, and more. The announcement marks the first set of projects funded through the CHIPS program, which aims to revitalize domestic chip manufacturing and counter China’s ambitions in the sector.