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One Year of President Biden’s Chips and Science Act in New Mexico

FOR IMMEDIATE RELEASE: August 2, 2023
PRESS CONTACT: McKenzie Wilson, [email protected], 773-715-0169

ONE YEAR OF PRESIDENT BIDEN’S CHIPS AND SCIENCE ACT IN NEW MEXICO

WASHINGTON, D.C. — One week from today marks the one-year anniversary of President Biden signing the CHIPS and Science Act into law. This legislation — which has already spurred more than $4 billion in semiconductor and electronics investments in New Mexico — is a first-of-its-kind national investment in one of the nation’s biggest sectors of economic growth. 

Ahead of the anniversary, Building Back Together spokesperson McKenzie Wilson released the following statement:

“President Biden’s signing of the CHIPS and Science Act into law has spurred a U.S. manufacturing boom the country had not seen in generations. Since its passage one year ago, the CHIPS and Science Act has already led to massive local investments in New Mexico’s semiconductor and electronics manufacturing capacity, including more than four billion dollars in private investments into the state. 

Put simply, the CHIPS and Science Act’s impact on New Mexico is Bidenomics in action: public investments spur private investments, creating jobs and helping grow the middle class.”

In just one year, the CHIPS and Science Act is already making a major impact for New Mexico. In Rio Rancho, Intel announced a $3.5 billion dollar investment to expand its semiconductor packaging technologies at its facility, creating an estimated 700 jobs.

And across the country, the CHIPS and Science Act has:

  • Helped generate more than $231 billion in private-sector semiconductor and electronics manufacturing projects across the United States since it was signed into law. 
  • Forged a new pathway for those without college degrees to find high-wage jobs: more than 60% of jobs in semiconductor fabrication plants don’t require a college degree. In order to help workers get the training they need to qualify for these roles, the Biden-Harris Administration is working with high schools and community colleges to train 100,000 new technicians over the next decade through apprenticeships, career and technical education, and career pathway programs.
  • Become a central part of the Biden-Harris Administration’s Investing in America agenda to rebuild our manufacturing and supply chains here at home, solidify America’s global leadership, and protect our long-term national security. 

Read more about the CHIPS and Science Act’s investments in New Mexico at Invest.gov.

 

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