U.S. offers funding to computer chip makers to expand local production, workforce

The Commerce Department is opening the application process for computer chip manufacturers to access $39 billion in government support to build new factories and expand production.

All companies seeking the funds will need to show how they plan to develop a local workforce, with firms getting $150 million or more also required to provide affordable and accessible child care for their workers.

The funding is part of the CHIPS and Science Act, which President Joe Biden signed into law last August. Grants, loans and loan guarantees are meant to revive domestic production of computer chips.