U.S. Department of Commerce Outlines $1.6 Billion in Proposed Funding to Support Multiple Projects in Texas and Utah to Increase Production of Chips Vital for U.S. Economic and National Security Today, the Biden-Harris Administration announced that the U.S. Department of Commerce and Texas Instruments (TI) have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $1.6...

Today, the U.S. Department of Commerce announced it will hold, with the Council on Foreign Relations, a Supply Chain Summit in Washington, D.C. on September 10, 2024. The Supply Chain Summit will explore efforts taken by government and industry to shift from reacting to global supply chain disruptions to proactively strengthening supply chain resilience. The Summit will gather leaders from...

Today, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) released an interim final rule (IFR) amending the Department’s licensing policy for exports of firearms, ammunition, and related components under its jurisdiction. The changes being announced are intended to reduce the risk of legally exported firearms and related items being diverted or misused to fuel regional...

Hello everyone! I’m very pleased to be back here today speaking with you all. I’d like to give a big thank you to the BIS team for putting together this remarkable conference. The last time I spoke at this conference was in 2022. Looking back, I don’t think anyone expected that in two years’ time, Russia’s illegal war of aggression against Ukraine would still be ongoing. But I believe that is a...

Good afternoon. It’s a big day here in Arizona. It’s also a big day in Ohio, New Mexico, and Oregon. In fact, it’s a monumental day for the country because today we mark one of the largest investments ever in the history of U.S. semiconductor manufacturing. I want to begin by thanking all the hardworking people making this possible – starting with the building trades who are working hard to build...

Proposed Budget Supports Key Commerce Department Initiatives and Programs to Increase Access to Good Jobs, Strengthen Competitiveness in the 21st Century Today, the Biden-Harris Administration submitted to Congress the President’s Budget for Fiscal Year 2025. Following historic progress made since the President took office—with nearly 15 million jobs created and inflation down two-thirds—President...

Emphasizes Need to Produce Leading-Edge Chips for AI One year ago, U.S. Secretary of Commerce Gina Raimondo delivered a speech at Georgetown University’s School of Foreign Service where she outlined her vision in implementing President Biden’s historic CHIPS and Science Act. Last week, she provided an update on its implementation and announced that future projects will be prioritized based on...

Thank you to the Center for Strategic and International Studies for hosting us. Last February, the Commerce Department rolled out the funding applications for the CHIPS for America program. I said at the time that our effort mirrors the space race – and I meant it. President Kennedy’s historic call to put a man on the Moon spurred an unprecedented effort by the government, private sector, and...

Good afternoon! I’m so excited to be here. This is a big day and we owe so much of it to Leader Schumer, who was the driving force behind the CHIPS and Science Act. Thank you to your leader, Tom Caulfield. Thank you to Governor Hochul, who has been a steadfast ally; Representative Tonko, who has been an advocate for New York; and Lael Brainard, who is joining us from the White House. And finally –...

Thank you, Senator Warner. I am grateful to you and Representative Beyer for joining us today. Your leadership was essential to getting the CHIPS and Science Act passed and making the Innovation Fund happen. I also want to thank Assistant Secretary Davidson and the entire Innovation Fund team at NTIA for your terrific work standing up this program and funding projects like the one we’re here to...