While many people are familiar with the CHIPS and Science Act (the “CSA”) that went into effect in August of 2022, particularly here in Ohio where it is viewed as the catalyst for Intel’s decision to build multiple semiconductor fabrication plants northeast of the state capital, not nearly as many people are familiar with the depth of the CSA.
Implicating multiple government agencies, including the Department of Commerce and the Department of Defense, the CSA aims to increase U.S. competitiveness, innovation, and national security by incentivizing American companies to keep semiconductor-related production, supply chains, and research and development activities within the country.
The CSA also seeks to support workforce training, as well as promote diversity and inclusion within the STEM workforce.
Another aim of the CSA is to promote the development of an open-architecture model for the wireless telecommunications industry, which is intended (at least in part) to diminish the amount of global telecommunication supply chain influence and control held by foreign companies.
With billions of dollars in financial assistance available under the CSA, companies should ensure they have a working understanding of the CSA. A section-by-section summary of the CHIPS Act can be found on the U.S. Senate’s Committee on Commerce, Science, & Transportation website.
Engage a Law Firm That Understands the Intersectionality of Corporate Legal and Compliance Issues
The attorneys at Calfee, Halter & Griswold represent numerous clients in the technology sector in multiple practice areas, including Corporate and Finance, Intellectual Property (including patent prosecution, patent portfolio management, and IP litigation), Government Relations, Labor and Employment, Employee Benefits and Executive Compensation, Litigation, and Insurance Coverage, among other areas. Our Washington, D.C. office includes a Federal Government Relations practice well-versed in relevant initiatives such as the CHIPS Act. With offices across the state of Ohio and Washington, D.C., we collaborate closely with our clients and with our partners across our practice areas to ensure that we identify and deliver the most efficient and strategic legal solutions available. We look forward to working with tech companies expanding or opening operations in the Buckeye State, as well as the companies providing services that support tech growth in Ohio.
Learn more about Calfee's commitment to supporting businesses in Ohio here: https://www.calfee.com/calfee-supports-businesses-ohio, or contact Billy Raulerson, the author of this blog post, for more information on the CSA.
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