WASHINGTON – The Commerce Department is preparing to dole out $39 billion in semiconductor manufacturing incentives, an initiative expected to bring more factories – and jobs – to the U.S.
In previewing how applications for the money will be rolled out, Commerce Secretary Gina Raimondo on Monday said would-be recipients must demonstrate their projects would benefit U.S. national security and produce a good return for the public.
“We are not writing blank checks to any company that asks and we’re going to make companies open their books to receive funding,” Raimondo said. “I suspect a lot of companies are going to have to work harder than they thought they would in order to receive the funding, but it’s an essential part of our work to ensure we’re protecting taxpayer funds.”
