Business Insider has published an interesting article dated January 9 which reveals major hurdles in efforts to counter China’s edge in making semiconductor chips. All of this is a major issue since only about 12% of all semiconductor chips, used in every facet of American life, are made in the United States. About 60% of all of the chips are made by TSMC located in Taiwan. The CHIPS ACT, signed into law in 2022 allocated $52 Billion in subsidies to speed up chip makers in the U.S. so we won’t be reliant on other nations. One problem, according to the article relates to construction slowdowns and another a slowdown in the distribution of the federal moneys. Here is a copy of the article which also reveals a more pressing issue: that there aren’t enough workers to fill the planned factories. https://www.businessinsider.com/semiconductor-chips-jobs-hiring-arizona-tech-phoenix-tsmc-intel-china-2024-1#
A July study by the Semiconductor Industry Association said that the US would be a shortfall of nearly 70,000 semiconductor workers by 2030. TSMC is constructing a factory in Arizona and plans on hiring over 4500 workers. Whatever it takes, our Government should address any delays and help deal with any hurdles.
Jeffrey Newman Esq. is an attorney whose law firm represents whistleblowers under the SEC, CFTC and FINCEN whistleblower programs. Persons providing original information to these agencies through counsel may receive rewards totaling up to 30 percent of a successful recovery made by the SEC, CFTC OR FINCEN and the names and identification of the whistleblowers are kept confidential. His firm also represents whistleblowers in healthcare fraud cases relating to Medicare of Medicaid. Attorney Newman can be reached at Jeff@Jeffnewmanlaw.com or at 617-823-3217
