Senate Bill 4, also known as the Oregon CHIPS Act, was formally signed into law by Governor Tina Kotek on April 13 in the Capitol Building in Salem. Both measures received unanimous approval from both chambers of the Oregon legislature last week.
The CHIPS Act, which Governor Kotek signed into law on April 13, is in the governor’s hands. To foster economic growth and government investment in Oregon’s semiconductor sector, Senate Bill 4 allocates $210 million.
Purposes of the CHIPS System
The CHIPS and Science Act, which Congress passed and President Biden signed in August 2022, offers significant federal funding support for expanding semiconductor businesses in Oregon. Senate Bill 4 allocates $190 million to develop a grant and loan program.
Ten million dollars are allocated to a University Innovation Research fund, which will assist public institutions in obtaining federal research funding. Ten million dollars are earmarked to help towns prepare land for industrial locations.
The measure creates the Oregon CHIPS Fund, which will award $190 million in grants and loans for:
- Designing and purchasing a location for semiconductor production
- Development of Semiconductors
- Improvements to the labor force via means such as internships and apprenticeships
To help local governments prepare the land for semiconductor industrial growth, a new fund called the Industrial Lands Loan Fund was formed with $10 million. Ten million dollars will be allocated to the University Innovation Research Fund so that public institutions may utilize federal research funds.
The statute mandates that OR CHIPS initiatives have a favorable effect on local and state income and create permanent, full-time employment.
Jobs in semiconductor production and research tend to pay well and be relatively secure, even for those who do not have a four-year degree. Proponents of the measure claim that a new semiconductor manufacturing plant in Oregon would produce billions in GDP and create 26,000 jobs.
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“Oregon has been at the center of the semiconductor industry in the United States for decades,” Kotek said.
“This bill is an absolutely essential tool for leading a coordinated effort with the private sector to ensure we can compete for federal funds to expand advanced manufacturing in Oregon. We are poised to lay the foundation for the next generation of innovation and production of semiconductors. I want to thank Senators Sollman and Knopp and Representatives Bynum and Wallan for championing this bill in the state legislature.”