Fact Sheet: The US Innovation and Competition Act Would Be A Boon for Wisconsin
The Legislation Invests in Businesses and Workers While Holding China Accountable
As Ron Johnson continues to try to kill the bipartisan U.S. Innovation and Competition Act, which is slated to be voted on in the Senate today, it’s clear if he gets his way Wisconsinites will pay the price.
See why Wisconsin in particular would benefit from the passage of this legislation:
- The bill allocates $52 billion to the semiconductor industry, an investment that could be beneficial to Wisconsin.
- The United States only produces 12% of the world’s microchips, so increasing production at home would make America less dependent on foreign manufacturers while providing good paying jobs to Wisconsinites.
- “A growing chorus says that decreased production levels…are a threat to America’s competitiveness, national security and supply chain resilience. Clearly, momentum is building for more fabs in the U.S.”
- The 4,000 acre campus and $1.4 billion facility where Foxconn was supposed to be built would be an ideal location for a semiconductor/microchip manufacturing plant.
- “The global chip shortage has been particularly troublesome for the U.S. auto industry, much of which is centered in the midwest. As electric vehicle production increases, chip demand will only grow. It makes sense to make chips near the auto companies.”
- The Foxconn location is between Chicago and Milwaukee, and is a short drive from Kenosha and Racine — two Wisconsin communities with deep labor backgrounds.
- The United States only produces 12% of the world’s microchips, so increasing production at home would make America less dependent on foreign manufacturers while providing good paying jobs to Wisconsinites.
- Wisconsin’s workforce would benefit from $120 billion investment in technological and manufacturing research as well as technological education and training programs.
- In addition to investing in Wisconsin workers and making the U.S. less dependent on foreign manufacturing, the U.S. Innovation and Competition Act will hold China accountable for their cybersecurity threats, theft of U.S. intellectual property, and economic malfeasance.
