"Biden Administration Invests $162M in Semiconductor Expansion in Colorado, Oregon"

The Biden administration has allocated $162 million to Microchip Technology to boost U.S. semiconductor production, with $90 million going to a Colorado plant and $72 million to an Oregon factory. This funding, part of the CHIPS and Science Act, aims to triple domestic chip production, create jobs, and reduce reliance on foreign manufacturing, which could help mitigate inflation by addressing supply chain issues. The investment is expected to create 700 jobs and follows a previous grant to BAE Systems for military chip production.