The chip industry's workforce is projected to grow to 460,000 by the end of the decade, up from roughly 345,000 this year. But at the current rate that people are graduating from schools, the U.S. will not produce enough qualified workers to fill the increase, according to the study prepared by the Semiconductor Industry Association and Oxford Economics.
The Commerce Department is overseeing the $39 billion in manufacturing subsidies stipulated under the act, and companies such as Intel Corp, Taiwan Semiconductor Manufacturing Co Ltd and Samsung Electronics Co Ltd have said they will apply for them. The law also created a 25% investment tax credit for building new chip factories, or fabs, that is worth $24 billion.
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