President Biden on Thursday signed an executive order to implement the CHIPS and Science Act of 2022 that seeks to provide incentives for semiconductor production, research and development efforts.
The EO establishes a steering council and sets six key priorities to facilitate the implementation of the law across the federal government, the White House said Thursday.
National Economic Director Brian Deese will co-chair the CHIPS Implementation Steering Council with National Security Adviser Jake Sullivan and Alondra Nelson, acting director of the White House Office of Science and Technology Policy.
The six priorities outlined in the order are protecting taxpayer dollars by implementing compliance and accountability requirements; meeting economic and national security needs; ensuring long-term leadership in the sector; strengthening and expanding regional manufacturing and innovation clusters; catalyzing private sector investment; and generating benefits for a broad range of stakeholders and communities.
The EO will advance these priorities by building domestic capacity that reduces the country’s reliance on foreign production for mature and leading-edge microelectronics, creating a collaborative network for semiconductor innovation and research and shifting financial incentives to maximize private investments in chip production, workers and technologies.
The Department of Commerce unveiled a website, CHIPS.gov, to provide the agency with a channel to communicate related initiatives with the public.
