Latest news with #CHIPSact
Yahoo
10-03-2025
- Business
- Yahoo
Gov. Greg Abbott awards Round Rock semiconductor supplier $2M in Texas CHIPS Act funding
Texas Gov. Greg Abbott awarded a $2 million Texas Semiconductor Innovation Fund to Round Rock-based semiconductor supplier KoMiCo Technology. Abbott announced Thursday that KoMiCo would receive the fourth TSIF grant for its facility in Round Rock, located at 201 Michel Angelo Way, just past North Austin. According to Abbott, the funding will support the creation of 70 new jobs and a $36 million capital investment. 'Texas is leading the American resurgence in semiconductor manufacturing and making strategic investments to secure critical domestic supply chains,' Abbott said in the statement Thursday. 'KoMiCo's $36 million investment to expand their clean room capacity and production lines in Round Rock supports increased chip production right here in Texas." KoMiCo, a wholly owned subsidiary of South Korea-based KoMiCo Ltd., works with global chipmakers on semiconductor equipment parts cleaning, coating and repair. The TSIF funding will support KoMiCo's Round Rock facility expansion by over 40,000 square feet, increasing its clean room capacity along production lines, according to the Thursday statement. Nearly a year ago, KoMiCo secured funding and celebrated the completion of the shell of the $30 million expansion, aided by $750,000 in incentives from the city of Round Rock. 'KoMiCo is profoundly grateful to the State of Texas for their generous grant supporting the semiconductor manufacturing supply chain,' KoMiCo USA CEO Sung Soo Jang said in the Thursday statement. 'This investment not only reinforces our industry but also strengthens the technological fabric of our nation." The Texas Semiconductor Innovation Fund was established through the Texas CHIPS Act, which Abbott signed in 2023. The fund aims to invest in semiconductor research, design and manufacturing in Texas. More: President Trump must focus on CHIPS act for Texas, U.S. manufacturing success | Opinion This is the fourth allocation from the fund. In February, Abbott awarded $23.25M to Austin-based Silicon Labs to support research and development and the company's new lab focused on artificial intelligence. He also awarded $2.4 million to Korean Dongjin Semichem Texas Inc., a specialty chemical and materials company with a facility in Killeen, in February. Additionally, $4.12 million was awarded to Intelligent Epitaxy Technology for its new facility in Allen in November. This article originally appeared on Austin American-Statesman: Texas Gov. Abbott awards KoMiCo Technology $2M through state CHIPS Act
Reuters
05-03-2025
- Business
- Reuters
Trump wants to kill $52.7 billion semiconductor chips subsidy law
WASHINGTON, March 4 (Reuters) - President Donald Trump said Tuesday U.S. lawmakers should get rid of a landmark 2022 bipartisan law to give $52.7 billion in subsidies for semiconductor chips manufacturing and production and use the proceeds to pay debt. "The CHIPS act is a horrible, horrible thing. We give hundreds of billions of dollars and it doesn't mean a thing. They take our money and they don't spend it," Trump said in a speech to Congress. "You should get rid of the CHIPS Act and whatever is left over, Mr. Speaker, you should use it to reduce debt."
