Statement from President Joe Biden on CHIPS and Science Act Preliminary Agreement

The CHIPS and Science Act, part of the Investing in America agenda, aims to reverse the decline in U.S. semiconductor production. A preliminary agreement between the Department of Commerce and BAE Systems, Inc. for a $35 million incentive award represents a key milestone, supporting the modernization of a facility crucial for national security and signaling a broader effort to boost semiconductor production, research, and development in the United States.