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The Semiconductor Industry Association (SIA) has expressed its support for the incentives announced by the U.S. Commerce Department and Polar Semiconductor, as part of the CHIPS and Science Act. These incentives will allow Polar Semiconductor to double its U.S. fabrication capacity of sensor and power chips within two years, serving various market segments. The Commerce Department has also announced incentives for other semiconductor companies, sparking substantial investments in the U.S. semiconductor industry. An SIA-Boston Consulting Group report projected that the United States will triple its domestic semiconductor manufacturing capacity from 2022 to 2032, with a 203% growth rate. SIA represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms. Through this coalition, SIA seeks to strengthen leadership of semiconductor manufacturing, design, and research by working with Congress, the Administration, and key industry stakeholders around the world to encourage policies that fuel innovation, propel business, and drive international competition.
