First CHIPS Act grant nets $35 million for BAE
The Biden administration said Monday it will grant $35 million to BAE Systems to expand operations at the British company’s New Hampshire plant, which is pivotal in producing computer chips for military aircraft.
This funding initiative marks the inaugural allocation from the CHIPS and Science Act, a bipartisan effort passed last year. The Act commits more than $52 billion towards advancing the domestic development and manufacturing of semiconductors in the United States.
“As national security becomes as much about the chips inside of our weapons systems as the weapons systems themselves, this first CHIPS announcement shows how central semiconductors are to our national defense,” Secretary of Commerce Gina Raimondo said in a news release. “Thanks to President Biden’s Investing in America agenda, we have reached preliminary terms to make a substantial investment in New Hampshire’s expanding defense industrial base, which will help make our country and supply chains more secure and bolster the economy of the Granite State.”