On August 9, 2022, President Biden signed into law the CHIPS and Science Act—a massive, $280 billion bill to boost public and private sector investments in critical and emerging technologies.
We anticipate significant opportunities and an evolving regulatory landscape for companies, associations, universities, and others who work in various technology sectors, including:
- High performance computing, semiconductors, and advanced computer hardware/software
- Advanced communications technology and immersive technology
- Advanced energy and industrial efficiency technology (including batteries, nuclear)
- Advanced materials science (including composites 2D and next-generation materials)
- Artificial intelligence, machine learning, autonomy, and related advances
- Quantum information science and technology
- Biotechnology, medical technology, genomics, and synthetic biology
- Data storage/management, distributed ledgers, and cybersecurity (including biometrics)
- Natural and anthropogenic disaster prevention or mitigation
- Robotics, automation, and advanced manufacturing
Below is an overview of the legislation and the funding and tax credit opportunities it provides for entities that participate in the research, development, production, education, or transfer of critical and emerging technologies, especially semiconductor manufacturing and research and open-RAN technology.
Headlining the bill are $54 billion in appropriations to fund the Creating Helpful Incentives to Produce Semiconductors (“CHIPS”) for America Act, which was authorized in 2021. The bill also includes $1.5 billion in appropriations for a wireless supply chain innovation fund under the Utilizing Strategic Allied Telecommunications Act, which was similarly authorized in 2021. Across these two sets of appropriations, over $40 billion are allocated for direct financial assistance in the form of competitive grants for which private companies will be able to apply. The law also authorizes over $200 billion in new programs across the federal government, paving the way for additional grants, public-private partnerships, and technology transfer opportunities.
Continue Reading Significant Funding and Tax Credit Opportunities in the CHIPS and Science Act