The bill aims to address the semiconductor shortage and its impact on the US economy and national security. It emphasizes the need to secure the semiconductor supply chain by increasing investment in domestic manufacturing and production. The bill directs coordination between the SelectUSA program and State-level economic development organizations to identify barriers and opportunities for foreign investment in semiconductor-related production. Additionally, it requires a report on activities and strategies to increase foreign direct investment in semiconductor-related manufacturing and production. No additional funds are authorized for carrying out the Act.
Securing Semiconductor Supply Chains Act
This bill requires the SelectUSA program to solicit comments from state economic development organizations regarding federal efforts to increase foreign direct investment in semiconductor-related manufacturing and production. SelectUSA must then report to Congress on such comments and the strategies that SelectUSA may employ to increase such investment and to secure the U.S. semiconductor supply chain.
SelectUSA is a Department of Commerce program established to coordinate federal efforts to attract and retain business investment in the United States.
