Signed CHIPS Act a boon to Greater Portland's Silicon Forest
10 Aug 2022
President Joe Biden signed a $280 billion bipartisan bill to boost domestic high-tech manufacturing Tuesday, part of his administration’s push to boost U.S. competitiveness over China.
Flanked by scores of lawmakers, union officials, local politicians and business leaders, Biden feted the legislation, a core part of his economic agenda that will incentivize investments in the American semiconductor industry in an effort to ease U.S. reliance on overseas supply chains for critical, cutting-edge goods.
“The future of the chip industry is going to be made in America,” Biden said in a sweltering Rose Garden ceremony Tuesday, referring to the diminutive devices that power everything from smartphones to computers to automobiles.
Read the full article on Oregonlive.com.
Greater Portland Inc applauds President Biden, the House of Representatives and the Senate for passing and signing the CHIPS act into law. The semiconductor industry is a vital part of the Greater Portland economy and this investment will contribute hundreds of well-paying jobs to our region.
The computers and electronics industry – semiconductors in particular – is Greater Portland’s powerhouse sector, with a concentration of specialized firms, talent and research expertise is unmatched elsewhere across the globe.
Nearly 80 years of investment in Greater Portland by Intel and Tektronix has cultivated a forest of thousands of technology firms and their suppliers. Intel has invested more than $49 billion since 1974 to support its global R&D headquarters in Hillsboro.
Greater Portland’s computers and electronics sector comprises over 350 companies that employ more than 41,000. The region offers 15 times the average national concentration of computers & electronics workforce talent.
As home to global engineering hubs, the Greater Portland semiconductor ecosystem produces components that provide crucial technology to the rest of the world.
Greater Portland’s international computers & electronics exports totaled $12.37 billion in 2020 alone. Learn more about the Silicon Forest by reading our industry overview.