States race to lure semiconductor industry

The Biden administration encouraged the rush in an effort to reinvigorate domestic manufacturing.
President Joe Biden tours semiconductor manufacturer Wolfspeed Inc., in Durham, N.C., Tuesday, March 28, 2023, with CEO Gregg Lowe and North Carolina Gov. Roy Cooper, right. (AP Photo/Carolyn Kaster)

A federal push to reinvigorate domestic semiconductor manufacturing amid supply chain shortages and national security concerns has touched off a fierce competition among states to lure chipmakers with generous tax incentive packages.

The stakes were raised last summer when President Biden signed the CHIPS and Science Act, providing $52.7 billion to bolster the industry, including $39 billion in manufacturing enticements to companies that expand production in the U.S.

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