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DoC In Preliminary Deal With Semiconductor Firm To Boost U.S. Production Of Chips That Will Aid Aerospace And Defense

By Cal Biesecker

Thursday, January 4th, 2024

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DoC In Preliminary Deal With Semiconductor Firm To Boost U.S. Production Of Chips That Will Aid Aerospace And Defense

U.S. Commerce Secretary Gina Raimondo. Photo: Department of Commerce

The Biden administration on Thursday said the Department of Commerce has agreed to preliminary terms with Microchip Technology Inc. [MCHP] to provide $162 million in federal incentives to boost the company’s domestic production of microcontroller chips used in automotive, aerospace, defense, and other industries. The potential investment is being made under the CHIPS and Science Act to strengthen the U.S. supply chain for semiconductors. The non-binding preliminary memorandum of terms (PMT) is the second between DoC and industry, the first…

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