Microchip Statement on the CHIPS & Science Act of 2022
Microchip President and CEO, Ganesh Moorthy, released the following statement after the passage of funding for the U.S. CHIPS & Science Act of 2022:
CHANDLER, Ariz., August 9, 2022 — The passage of the CHIPS & Science Act of 2022, which was signed into law today by President Biden, is good for our semiconductor industry and good for America. It provides critical investments to even the global playing field for U.S. semiconductor companies and is strategically important for our economic and national security. As the largest U.S.-headquartered supplier of microcontrollers and the global leader in semiconductors in aerospace and defense electronics, we will benefit from the Act’s investment tax credits and potential additional grants. These financial incentives and other potential funding will be used to support Microchip’s specialized manufacturing technologies for products that are vitally important to the national defense as well as various commercial industries. We applaud the U.S. Senate and House of Representatives and particularly the Congressional members who supported the bill in Arizona, Colorado and Oregon where we operate our manufacturing facilities.
About Microchip
Microchip Technology Inc. is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs which reduce risk while lowering total system cost and time to market. The company solutions serve more than 120,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.
Brian Thorsen
480-792-7182
brian.thorsen@microchip.com
1-888-624-7435