President Biden of the United States has announced that he will provide approximately 1.3 trillion yen in subsidies to semiconductor manufacturer Intel for factory construction costs.
President Biden, who is seeking re-election in the fall presidential election, appears to be aiming to emphasize his strong support for domestic manufacturing.
On the 20th, President Biden of the United States toured a facility of semiconductor manufacturer Intel in the western state of Arizona.
After the tour, President Biden gave a speech and announced that he would provide Intel with subsidies of up to $8.5 billion, or approximately 1.3 trillion yen in Japanese yen.
The subsidy will be used to cover the costs of building state-of-the-art semiconductor factories in states such as Arizona and Ohio.
President Biden said, ``Investing in America can change the future of our country and help us lead the world again,'' and emphasized that he will rebuild the semiconductor industry.
The subsidy will be the largest amount under the system, using the legal framework enacted by the Biden administration in 2022 to boost domestic semiconductor production and development.
The company also anticipates that this investment will lead to the creation of approximately 30,000 jobs.
President Biden, who is seeking re-election in the autumn presidential election, aims to compete with China, which is proceeding with state-led technological development using huge budgets for cutting-edge semiconductors, and to emphasize his stance of strongly supporting the manufacturing industry. It seems that there is.