🔹 What America’s New $280 Billion Law Means For the Tech Industry 💰
As most are aware, for the last few years, industries worldwide have been faced with an unprecedented shortage of the semiconductor chips needed to manufacture products all the way from tech devices such as TVs and smart phones to cars and kitchen appliances.
axxios has also been impacted by this industry changing crisis, building hundreds of prototypes to revise our hardware designs around chips that we can buy now rather than wait out long supplier lead times. Most companies in today’s economy rely heavily on foreign factories to produce chips and their products. axxios has an advantage over our competitors by continuing to manufacture our products here in the United States.
Acknowledging the US’s overreliance on foreign manufacturing, on August 9, 2022, the CHIPS and Science Act was signed into law and includes $52.7 billion in funding for US chipmakers over the next five years. Some are even calling this bill “one of the largest investments in science, tech, and manufacturing in decades” by creating jobs, helping with supply chain issues, and lowering costs for consumers. Intel, America’s largest chip manufacturer, praised the CHIPS and Science Act by stating, “this investment will shape the future of America’s leadership… and innovation.”
This new legislation should help to ease the effects of these shortages for US industry in the coming years, but axxios is working around these challenges now to begin delivering our revolutionary smart home products in the near future.
An investment in axxios is an investment in the future of American made technology. Invest today!
- the axxios team