Onshoring
The top factories that manufacture semiconductor chips are based in Asia, and US government officials have been pushing to increase manufacturing on American soil for industries like defense, as well as to hedge against possible geopolitical events that could cut off US chip supplies.
As Under Secretary of State, Keith Krach’s efforts to secure the semiconductor supply chain, resulted in the largest onshoring in US History and the catalyst for $350B investment in US Chip Industry and the $250B bipartisan CHIPS and Science Act for research funding in top national security technologies. Krach’s efforts can serve as a model for US investment and onshoring in other vital tech sectors.
Making Chips in America: Fireside Chat with Keith Krach & Pat Gelsinger | Concordia Annual Summit
The top factories that manufacture chips are based in Asia, and U.S. government officials have been pushing to increase manufacturing on American soil for industries like defense, as well as to hedge against possible geopolitical events that could cut off U.S. chip supplies.
Biggest Onshoring in US History Will Rebuild America’s Chip Industry: Fmr Under Sec. of State Krach
In 2020, the world's largest and most advanced chip maker, Taiwan Semiconductor Manufacturing Company (TSMC), announced a plan to build a 12 billion dollar plant in Arizona. Where they will produce 3 nanometer chips. This is the largest onshoring in U.S. history.