Today, semiconductor companies produce more chips than ever before. The success and growth of computers and software have subsequently driven the growth of the semiconductor industry. The US semiconductor industry is huge, directly contributing US $24.6 billion to the US GDP. In 2020 (semiconductor companies) will directly employ 277000 workers.
However, the economic contribution of the semiconductor industry far exceeds the value brought by its design and production. The strong demand for all types of chips has promoted the demand for a broader domestic support ecosystem, including manufacturing equipment, materials, design services, testing laboratories and research and development activities. This ecosystem creates activities that add economic value throughout the American economy.
More than ever, it is necessary to expand the semiconductor R&D, design and manufacturing industry in the United States. By supporting the expansion of the US semiconductor industry, almost all other US industries will benefit. Whether the demand for semiconductor equipment, tools and materials increases or the supply of chips to downstream industries becomes more stable, semiconductor R&D, design and manufacturing are an integral part of the U.S. economy.
In fact, it is estimated that more than 300 different downstream industries of the economy (26.5 million jobs in the United States) have purchased products from the U.S. semiconductor industry, and have therefore received support from the U.S. semiconductor industry. This is achieved by tracking the purchase of semiconductors as inputs for the production of other products - including aircraft manufacturing, automobile manufacturing and printing, design services, testing laboratories and R&D activities. The activities created by this ecosystem generate additional economic value in the entire American economy.