How Will the Chip Act Impact the Semiconductor Industry?
Insights from Keenan Jeworski, Symmetry Electronics VP and General Manager
Symmetry Electronics’s very own Vice President and General Manager, Keenan Jeworski, has been featured in Electronics Sourcing North America’s (ESNA) latest October 2023 edition. As a leader of a renowned global semiconductor distributor, Keenan is uniquely qualified to answer questions and provide key insights that the industry is seeking regarding the CHIPS and Sciences Act of 2022. Keenan’s Q&A article in this month’s edition of ESNA informs readers of what the future holds for sourcing semiconductors.
One of the most significant benefits of the Chip Act is that “manufacturing in the US will offer national security, allowing the US to be less reliant on other countries to build semiconductors,” says Keenan. He also cites that, “Today, about 75% of semiconductors are manufactured in Southeast Asia.” Of that 75%, 65% of “the most complex” semiconductors are manufactured by one company in Taiwan. The Chip Act will enable incentives for US-based semiconductor companies to manufacture their own components instead of outsourcing. In addition to overall economic benefits like job creation, the Chip Act seeks to simplify the complexity and disruptions in the semiconductor supply chain.
Keenan’s article also touches on current and future trends in the semiconductor industry. He’s currently seeing companies increasing on-hand inventory and recruiting additional team members. For all of Keenan’s insights and forecasts, read his full Q&A article on page 8 of this month’s edition of Electronics Sourcing North America!