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CHIPS Act means billions in investment in Indiana
Two years after U.S. Sen. Todd Young, R-Ind., co-authored the CHIPS and Science Act, Indiana is reaping big rewards.
Young, who is serving his second six-year term in the Senate, was one of the earliest advocates of earmarking significant federal spending for reducing U.S. dependence on technology from China and other foreign countries and increasing research, development and manufacturing of key technology domestically.
The resulting law—the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act—allocated $53 billion in federal incentives for U.S.-based semiconductor manufacturing, and research and development.
Indiana is headquarters to two tech alliances, called hubs, created by the CHIPS Act. Late in 2023, the U.S. Department of Defense awarded $33 million to the Indiana-based Silicon Crossroads Microelectronics Commons Hub.
Then in July, the U.S. Department of Commerce announced that Indiana would receive $51 million in federal funding to kick-start the Heartland BioWorks Hub, one of 12 hubs chosen to split $500 million in implementation funding from the CHIPS Act.
And in August, the Commerce Department announced that South Korean chip manufacturer SK Hynix Inc. will receive up to $450 million of federal CHIPS Act support to build its $3.87 billion semiconductor packaging facility at the Purdue Research Park in West Lafayette.
“One of the primary goals of the CHIPS and Science Act was to bring semiconductor manufacturing back to the United States,” Young said about the SK Hynix announcement. “I’m thrilled that this investment is being made right here in Indiana to help our country continue to shore up our domestic supply chain. We cannot afford to rely on China or other countries for components that are critical to our national security.”•
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