SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, praises President Joe Biden’s signing of the CHIPS and Science Act of 2022 into law in a Rose Garden ceremony at the White House. This historic step for the U.S. government, providing a means to reverse the decades-long trajectory of declining chip manufacturing in America, is crucial to securing a domestic source of chips and meeting ever-growing demand.
“It is an honor to be present as the President signs this historic legislation into law. I commend the Biden administration and Congress for their efforts to ensure a strong and resilient semiconductor supply chain,” said SkyWater’s President and CEO, Thomas Sonderman. “Over the past five years, SkyWater has set out to be ‘America’s foundry’ – to do our part in the reshoring of semiconductor manufacturing. Semiconductors are at the center of our national security and cross all sectors of our economy; positioning the U.S. to regain the leading edge in research, innovation and manufacturing while developing crucially needed technology talent is at the heart of our company.”
Last month, SkyWater announced its plans to pursue CHIPS funding to build a $1.8 billion U.S. semiconductor R&D and production facility in Indiana through a dynamic public-private partnership with the state and Purdue University. SkyWater manufacturing facilities in Minnesota and Florida, which offer development services, volume production and heterogeneous integration solutions, are also eligible for consideration of CHIPS grants.