Tips for making the most out of government benefits for US semiconductor growth
San Diego, CA, October 4, 2022: TECHCET—the electronic materials advisory firm providing business and technology information— has been monitoring the status of the U.S. Chips Act rollout to help semiconductor material companies obtain legislative benefits for new expansions. The funding application process will be announced in February 2023. The fine details are still evolving and may be influenced by lobbying or world events. However, there are steps companies can begin taking in order to more easily and quickly obtain legislative benefits. For one, the government wants companies to have “ready-to-go” expansion plans so that there is a clear pathway and benefit for any monetary support. This means companies should consider having detailed plans for new facilities already laid out, including having land already pinpointed or purchased, and showing progress already made with state and local government. The Federal Register has yet to release the Funding Opportunity Announcement (FOA), but once this is out, companies should have plans in place to help facilitate the application process.
Another step that companies can take to improve their chances of obtaining governmental funding is to work with lobbyists, grant writers, attorneys, or other external experts. Companies can work with these individuals to help identify areas in the application that may need fortification to meet the Department of Commerce’s expectations. Because of the uncertainty of the official criteria to qualify for grants, having pre-established government connections and input can be helpful.
As mentioned, the official protocol and criteria for CHIPS Act support is still being worked on, so it is important to frequently check governmental websites for updates. Key websites include www.chips.gov and www.federalregister.gov, among others. It may also be helpful for companies to register their company with the U.S. government at www.sam.gov. To get a copy of TECHCET’s “CHIPS Act Check List” available for free to CMC and DSS member subscribers, or for more information on materials markets and consulting, please contact TECHCET at email@example.com.
ABOUT TECHCET: TECHCET CA LLC is an advisory services firm expert in market analysis and business development of electronic markets and supply-chains for the semiconductor, display, solar/PV, and LED industries. TECHCET offers consulting, reports, and subscription services, including the Critical Materials Council (CMC) of semiconductor fabricators and CM Data subscription services. For additional information, please contact firstname.lastname@example.org, +1-480-332-8336, or go to www.techcet.com.