The shortage of technicians could reach 90,000 by 2030
Global semiconductor shortage:
How the US plans to close the talent gap
The US chip industry is facing a labor shortage, and the Biden administration is investing heavily to address it. | by HabitTrade | Jul, 2024 | Medium
Source:Zhitong FinanceThe Biden administration is launching a program to train a workforce in the United States for semiconductor production in order to avoid the threat of a labor shortage to domestic semiconductor production.
The program is called the Labor Partnership Alliance and will use some of the $5 billion in funding allocated by the US federal government for the newly established National Semiconductor Technology Center (NSTC).
Industry and government officials warn that without significant investment in labor, new factories may struggle. Some estimates suggest that by 2030, the US will lack 90,000 skilled workers, with the goal of producing at least one-fifth of the world’s most advanced chips.
Since Joe Biden signed the Semiconductor and Science Act over two years ago, more than 50 community colleges have announced new or expanded semiconductor-related projects.
On Monday, the US Department of Commerce announced the 12th installment of funding for the manufacturing project: $6.7 million to Rogue Valley Microdevices. This funding will be used to support a new factory in Florida dedicated to chip production for defense and biomedical applications.
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US to Fight Labor Shortage With New Chips Act Worker Program
- The NSTC plans to provide funding for up to 10 workforce development projects, with budgets ranging from $500,000 to $2 million.
- The center will also launch additional application processes in the coming months, and officials will determine the total level of expenditure after considering all applications.
Industry and government officials warn that without significant investment in labor, new factories may struggle. Some estimates suggest that by 2030, the US will lack 90,000 skilled workers, with the goal of producing at least one-fifth of the world’s most advanced chips.
Since Joe Biden signed the Semiconductor and Science Act over two years ago, more than 50 community colleges have announced new or expanded semiconductor-related projects.
- The four largest chip manufacturing funding in the United States covers Intel, Taiwan SemiConductor, Samsung Electronics and Micron Technology, and each project includes dedicated workforce funding of $40 million to $50 million.
On Monday, the US Department of Commerce announced the 12th installment of funding for the manufacturing project: $6.7 million to Rogue Valley Microdevices. This funding will be used to support a new factory in Florida dedicated to chip production for defense and biomedical applications.
About HabitTrade
HabitTrade helps you trade and invest easily around the world. Trade US stocks, HK stocks, options, ETFs, cryptocurrencies, and more investable assets are on the way. Deposit easily with cryptocurrencies and 150+ native fiat currencies. As a licensed securities group company, HabitTrade guarantees the safety of assets.
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