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Tag Archives: Gina Raimondo
Department of Commerce Proposes $8.5B Intel Funding
The U.S. Department of Commerce and Intel Corporation have reached a non-binding preliminary memorandum of terms (PMT) to provide up to $8.5 billion in direct funding under the CHIPS and Science Act to strengthen the U.S. supply chain and re-establish American leadership in semiconductor manufacturing, the Biden-Harris Administration said today. This is the Department of Commerce’s fourth PMT announcement under the CHIPS and Science Act. So-called leading-edge chips power the most sophisticated technology extant, including developing AI and building critical military systems and weapons.
“There is no one who cares more about revitalizing American manufacturing than President Biden, and today’s announcement is a massive step towards ensuring America’s leadership in manufacturing for the 21st century. With this agreement, we are helping to incentivize over $100 billion in investments from Intel – marking one of the largest investments ever in U.S. semiconductor manufacturing, which will create over 30,000 good-paying jobs and ignite the next generation of innovation,” said U.S. Secretary of Commerce Gina Raimondo. Continue reading
Posted in auto news, autonomous cars, autonomous vehicles, economy, electric vehicles, electronics, engineering, manufacturing, milestones, news analysis, software defined vehicles, software defined vehicles
Tagged artificial intelligence, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden-Harris Administration, CHIPS and Science Act, Gina Raimondo, Intel, Intel 18A, Ken Zino, Pat Gelsinger, semi-conductors, U.S. Department of Commerce
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CHIPS Act – National Security Rules Issued
“CHIPS for America is fundamentally a national security initiative and these guardrails will help ensure companies receiving US Government funds do not undermine our national security as we continue to coordinate with our allies and partners to strengthen global supply chains and enhance our collective security,” claimed Secretary of Commerce Gina Raimondo.
As with all such bills emanating in Washington, the devil is in the details of how the stated goal of enhancing global supply chain resilience in coordination with allies and partners will be governed, at least on paper. Nevertheless, this appears to be another successful implementation of awakened policies in the areas of national security, trade, jobs and the economy. It is also a diplomatic victory. Continue reading
Posted in news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Administration, Bureau of Industry and Security Entity List, Chinese Military-Industrial Complex Companies, CHIPS and Science Act, Gina Raimondo, industrial policy, Ken Zino, Ken Zino of AutoInformed.com on CHIPS and Science Act - National Security Rule Issued, US Department of Commerce
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US 2023 National Export Strategy – Jobs Through Exports
The 2023 NES was released during the Biden-Harris Administration’s inaugural meeting of the President’s Export Council (PEC), a body that serves as the major national advisory committee on international trade. The PEC is comprised of more than two dozen leaders from the private sector, labor, and academia who provide recommendations to the President on policies and programs that affect US trade performance. It is a decidedly awakened approach in stark contrast to the job losing export killing trade war polices of the previous Administration that voters dumped four years ago. Continue reading
Biden Recovery – Unemployment at Lowest Level in 54 years
“Let’s not forget where we were when the President took office – the economy was in crisis,” said Commerce Secretary Gina Raimondo. “Now, we’ve achieved record job creation, record low unemployment, and a record number of small business applications. America is on the move once again.” Continue reading
Commerce Releases Plan to Boost America’s Competitiveness
While Commerce has revised its mission statement to underscore the connection between its programs and all Americans, specifically the Department’s mission is to create the conditions for economic growth and opportunity for all communities, AutoInformed thinks it’s going to take a lot more than publicity releases. What needs to happen in our view is to accomplish real change and have resentful people not only endorse and help in its implementation, but also to recognize that government can make things better for the common good despite the abject failures of the previous Administration to do so. Since Ronald Reagan the Republican party has said government is the problem while proving exactly that under successive Republican mis-administrations. Continue reading
Hemlock Semiconductor to Open New Plant in Michigan
Governor Gretchen Whitmer of Michigan today confirmed that the Biden-Harris administration provided the proposed direct funding of $325 million to Michigan-based manufacturer Hemlock Semiconductor (HSC)*
“HSC is one of many Michigan-based companies that is helping us lead the future of advanced manufacturing. Thanks to the Biden-Harris administration’s bipartisan CHIPS and Science Act and the U.S. Department of Commerce, we are ensuring HSC’s global leadership in the powerful domestic supply chain to manufacture semiconductor chips needed for everything from computers and phones to AI applications. Together, we are strengthening national and economic security by ensuring supply chains, good-paying jobs, and cutting-edge investments are where they belong—here at home. Let’s build the future we all want—one where America leads,” said Whitmer. Continue reading →