US chip dreams will fade without more immigrants
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The Chips and Science Act was passed by Democrats and Republicans to revitalize US semiconductor manufacturing, but the shortage of skilled workers threatens the industry's growth. Proposed solutions include a specialized visa program and increased support for STEM education. The law was passed in 2022 and has already awarded nearly $30 billion in subsidies and $25 billion in loans. However, companies are facing shortages of skilled workers, particularly in the installation of chipmaking equipment. The number of Americans studying in relevant graduate programs has been flat for 30 years, and the Semiconductor Industry Association predicts a shortfall of 67,000 skilled workers by 2030. Without more skilled workers, companies may demand additional subsidies or shift production to Taiwan and Japan, leading to a loss of US technological leadership and national security benefits. Proposed solutions include the creation of a "chipmaker's visa" that would auction a certain number of visas for high-skilled workers, and increasing the overall number of visas for high-skilled immigrants with in-demand STEM skills. Comprehensive immigration reform is also suggested.

#UsChipIndustry #Immigration #SkilledWorkers #ChipsAndScienceAct #StemEducation

https://m.economictimes.com/nri/work/us-chip-dreams-will-fade-without-more-immigrants/articleshow/111356734.cms