The article discusses ON Semiconductor’s plans to invest $2 billion in a new chip production facility in the United States. The company, a leading supplier of sensors and power management chips, aims to address the global semiconductor shortage and meet the increasing demand for chips used in various industries, including automotive, industrial, and cloud computing. The new facility will create approximately 1,000 high-paying jobs and is expected to begin production in 2025. The investment is part of ON Semiconductor’s efforts to expand its manufacturing capacity and strengthen its supply chain resilience. The article highlights the importance of domestic chip production for national security and economic competitiveness, as well as the Biden administration’s efforts to support the semiconductor industry through the CHIPS Act.