Signed CHIPS Act a boon to Greater Portland's Silicon Forest

Signed CHIPS Act a boon to Greater Portland's Silicon Forest Main Photo

10 Aug 2022

Economic News

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. 

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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