Manufacturers Urged to Apply for CHIPS Act Funding
The Lamont administration is urging Connecticut semiconductor manufacturers to apply for federal funding through the CHIPS and Science Manufacturing Incentive Program.
The CHIPS Act and the CHIPS for America Fund provides $52.7 billion in funding to strengthen the U.S. semiconductor industry.
Some of that funding is available through the Manufacturing Incentives Program.
The program provides funding for commercial facilities, supply chain projects, and research and development opportunities.
The Department of Economic and Community Development established the Connecticut CHIPS Consortium to provide technical assistance to applicants.
The consortium is a combination of private, public, and nonprofit organizations that foster a regional semiconductor cluster.
‘Leveraging Federal Dollars’
Gov. Ned Lamont called the funding an important way to leverage federal dollars to “strengthen the regional semiconductor fabrication and supply chain.”
“By utilizing the CHIPS for America Fund opportunities, semiconductor firms can tap into the state’s skilled workforce and industry experience to drive transformative technological advancements for next-generation chips,” he said.
Commercial fabrication and larger supply chain projects can apply for up to 35% of capital investment through grants, cooperative agreements, loans, and loan guarantees.
Smaller supply chain projects can request up to 10% of capital investment through grants or cooperative agreements.
“Connecticut’s manufacturing sector is renowned for its innovation and highly skilled workforce,” said CBIA president and CEO Chris DiPentima. “This effort will only enhance that reputation.”
“This is an opportunity to continue to foster new innovations and technology, and expand workforce development—critical pieces for growing the state’s economy.”
EXPLORE BY CATEGORY
Stay Connected with CBIA News Digests
The latest news and information delivered directly to your inbox.