President Joe Biden signs an executive order on Thursday to activate domestic semiconductor production as a part of the CHIPS and science Act


 The order implements funding and marks the launch of the website, which offers public information about the law’s priorities and activities


The White House said the bill will help rebuild our supply chains, manufacturing, and infrastructure here at home.


The order identifies the following priorities - protecting taxpayers' dollars, meeting economic and national security needs

 Ensuring long-term leadership, strengthening regional manufacturing, catalyzing private investment, and offering benefits to communities.

 In the bill, Biden stressed how important semiconductor manufacturing is to national and economic security.

 The bill provides $52 billion in subsidies to US semiconductor manufacturers

 Overall the CHIPS act provides $280 billion to fund the entire semiconductor supply chain

It will create 1 million construction jobs over five years