Washington, D.C. — Last year, President Joe Biden signed into law the CHIPS and Science Act, which provides incentives to grow the U.S. chip manufacturing industry, create good-paying jobs, and fortify domestic supply chains. A new CAP Action analysis finds that more than 83 percent of total chip investments made in recent years are in areas with large Latino populations.
To date, chip manufacturers have announced more than $790 billion in private sector investments across the country, according to the Center for American Progress’ Biden Administration Investment Tracker. Of the more than $790 billion in private investments, $662 billion are located in areas where at least one congressional district has a Latino population that is at or higher than the national average. Latinos could have a unique opportunity to benefit from the influx of good-paying jobs these investments will create, with the economic growth spurred by this flourishing industry supporting their communities and small businesses.
“By making sure CHIPS and Science Act investments are reaching the communities that need them the most and catalyzing new education and workforce development programs, the Biden administration is helping address and close these racial and ethnic disparities in the STEM workforce,” said Mariam Rashid, associate director of Racial Equity and Justice at CAP Action and co-author of the column. “These investments are further proof that the Biden administration is making good on its promise to grow the economy more equitably and build more bridges to America’s middle class.”
Read the column: “Latino Communities Could Disproportionately Benefit From New Semiconductor Investments” by Colin Seeberger and Mariam Rashid.
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