On Tuesday, President Biden formally signed the $52 billion CHIPS Act, which would fund several technology manufacturing and research and development initiatives to aid the U.S. electronics industry. The legislation would provide funding incentives for onshore electronics manufacturing and associated electronics research and development, as well as fund workforce education and training. It will help the U.S. address global supply-chain issues and geopolitical instability that have long affected the electronics industry.

The CHIPS Act is part of larger $280 billion legislation, called the CHIPS and Science Act, that funds basic and applied research at the government's National Science Foundation, National Institute of Standards and Technology, and Commerce Department. These programs will help ensure U.S. competitiveness in science and technology by allocating resources to several programs aimed at developing technologies to tackle the challenges the country faces in sectors such as energy, space and defense, marine exploration, and other areas. It will also address science education and training at levels from elementary school through post-graduate studies.

The gallery highlights several key industry sectors the CHIPS and Science Act will benefit.

Related:Semi Industry Finally Gets Good News: Senate Passes CHIPS Act

Spencer Chin is a Senior Editor for Design News covering the electronics beat. He has many years of experience covering developments in components, semiconductors, subsystems, power, and other facets of electronics from both a business/supply-chain and technology perspective. He can be reached at [email protected].