New federal incentives to lure hi-tech jobs to US, Ohio
The CHIPS ACT offers investment tax credits and grants to semiconductor and wireless manufacturing companies to boost domestic research and manufacturing across the United States.
According to Ohio's U.S. Senator Sherrod Brown (D-OH) , the more a company invests its dollars and resources to build facilities in the U.S. and to hire American workers, that company will then be eligible for deeper federal tax breaks. New construction sites must be underway before January 1 2027.
“It's an investment we make in workers, an investment we make in technology, an investment we make in our country,” Senator Brown said.
Wednesday, Senator Brown visited Silfex in Springfield. The company creates precision components used to make and operate semi-conductor manufacturing equipment, vital to the global electronics industry.
The CHIPS ACT also provides funds for supply chain innovation, for advanced microelectronics research and development as well as for educating and training workers.
“For some it'll be a college degree. For some it'll be community college or coming out of high school with joint vocational trade skills or the apprentice programs that the electricians, carpenters, pipe fitters and sheet metal workers go through,” explained Senator Brown.
The measure has bipartisan support. The federal tax credits go into affect after mid-December.