The Biden Administration made a big deal of their decision to help fund the creation of more microchip laboratories on U.S. soil to mitigate the monopolies forming by China and Taiwan. The net result of that project is microchip makers are turning down “free” money, subsidies, because that “free” money has strings attached.
Those strings have to do with the Biden administration’s commitment to create a de facto trade unionist force in the form of DEI enforcers who will assure your company aligns politically with the Democratic party. Now these companies are choosing to invest their own money to build labs in places like Israel and Russia.
Excerpt from www.dailymail.co.uk
Companies including Samsung and Intel are backing out of using the US as a hub to build semiconductor microchip makers
An opinion piece in The Hill points the finger at the diversity, equity and inclusion necessary in government subsidies as the main reason for the exodus
The subsidies are paid for by the CHIPS and Science Act, a $280 billion bill to fund semiconductor chip manufacturing and boost competitiveness with China
Top microchip makers are postponing their expansion into the U.S. and setting up shop in Israel and Russia due to equity caveats that are required for them to receive grants from the U.S. government.
The Biden administration promised earlier this year that they would be handing out $39 billion in grants to encourage semiconductor manufacturing in the U.S.
Shortly after the announcement however, Intel announced they would be holding off on their Columbus factory, while Samsung also delayed their facility in Texas.
Despite the billions in subsidies, two experts believe the tech companies’ decision to back out of building manufacturing facilities in the U.S. stems from the diversity, equity and inclusion policy.
In an opinion piece for The Hill, CEO of Strive Asset Management Matt Cole and head of research at the company, Chris Nicholson, say the subsidies are so ‘loaded with DEI that it can’t move.’
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