Key Notes:

  • On September 29, 2023, the United States Department of Commerce launched a new funding opportunity for projects involving the construction, expansion, or modernization of semiconductor materials and semiconductor manufacturing equipment facilities under the CHIPS Act of 2022.
  • Projects within scope are expected to involve a complete capital investment range between $20 million and $300 million.
  • The funding application includes significant technical, financial, workforce and economic information, and effectively requires applicants to coordinate with other stakeholders and agencies.
  • Applicants are expected to demonstrate that they comply with eligibility requirements and various security expectations related to cybersecurity, intellectual property, supply chain resiliency, and regulatory requirements.
  • The Department of Commerce will begin taking initial applications on December 1, 2023, and the application window will close on February 1, 2024.

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