President Donald Trump signed an executive order establishing the United States Investment Accelerator, an office facilitating corporate and foreign investments in the nation and implementing the CHIPS Act.
The CHIPS Act supports the production of semiconductors.
“It is the policy of the United States to modernize its processes to attract substantial domestic and foreign investment in the United States and to actively assist those building here for the benefit of our Nation’s economic prosperity to unleash investment from our small businesses to the largest companies,” the order says.
“The Investment Accelerator shall facilitate and accelerate investments above $1 billion in the United States by assisting investors as they navigate United States Government regulatory processes efficiently, reduce regulatory burdens where consistent with applicable law, increase access to and use of our national resources where appropriate and consistent with applicable law, facilitate research collaborations with our national labs, and work with State governments in all 50 States to reduce regulatory barriers to, and increase, domestic and foreign investment in the United States,” the order explains.
According to a White House fact sheet, the office will “cut through red tape and ensure that businesses can quickly deploy capital and create jobs without navigating a maze of bureaucratic hurdles.”
“With the Investment Accelerator in place, President Trump is supercharging the flow of capital into the United States, boosting prosperity across the nation,” the sheet notes.
Trump’s executive order comes as the Semiconductor Industry Association announced earlier this month that there are more than $540 billion in semiconductor supply chain investments. More than 100 projects have been announced across the United States that will create over 500,000 jobs.
