Sinema Praises Awarding of $8.5 Billion to Intel Thanks to CHIPS Act

The 2022 Creating Helpful Incentives to Produce Semiconductors in America (CHIPS) Act has already produced results, as semiconductor company Intel received a $8.5 billion grant to develop manufacturing plants in Arizona and throughout America. Senator Kyrsten Sinema (I-AZ), who had introduced the bill, released a statement in response, saying, "This investment is proof of how smart, responsible, bipartisan legislation delivers meaningful impact for Arizona as we lead our country to the future."

The Wall Street Journal described how the money was the most awarded by the Biden Administration to semiconductor manufacturers yet and projected to incentivize $100 billion in investments.

Additionally, while the bill's grants would allow Intel to invest in building plants across four states, Arizona received particular attention, referenced in Sen. Sinema's statement, mentioning the building of two new plants in Chandler and the promise of creating 9,000 new jobs in the state.

"This is huge news that will cement Arizona as a global hub for microchips and create a lot of great-paying jobs that don’t require a four-year degree. From Intel and the administration to our state and local economic development leaders and the City of Chandler, everyone worked hard together to get this done. Bringing microchip manufacturing back to America was the goal of my historic CHIPS Act, and today’s announcement is the biggest step we’ve taken towards making that a reality," said Sen. Sinema.

Sinema first introduced the bill in 2020 with Senators John Cornyn (R-TX) and Mark Warner (D-VA), the goal being to bring the manufacturing of semiconductors back into the United States. The CHIPS Act was not without opposition, including Senator Rick Scott (R-FL), who in July 2022 called the bill "nothing but a reckless spending spree," that did not do enough to push back against Chinese encroachment on semiconductor manufacturing in an op-ed for the Wall Street Journal.

Nevertheless, the bill passed and became law in August and the Federal government has awarded additional grants aside from Intel since the CHIPS Act's passage, including grants to GlobalFoundries, Taiwan Semiconductor Manufacturing, Samsung, and Micron Technology.

While Sinema could potentially capitalize on the recent allocation to Intel and its promised effects for Arizona thanks to her bill, she has chosen not to seek reelection.