While the news of a global microchip shortage made the biggest splash in headlines throughout 2020, the shortage is far from being resolved. While supply chain issues and other factors continue to play a role in semiconductor manufacturing, legislators are working to promote solutions.
In 2022, President Biden signed the CHIPS and Science Act into law, pledging $280 billion in US government funding, including $52 billion to boost American domestic semiconductor manufacturing. While the move may not completely alleviate the global microchip shortage, it could have a significant impact on domestic chip production.
What Is the CHIPS Act?
The CHIPS and Science Act includes funding allocated for semiconductor research investments, manufacturing grants, and investment tax credits for American domestic chip manufacturing. It also provides billions of dollars to support scientific research and development in defense, artificial intelligence, robotics, and quantum computing technologies.
This new bill is aimed at mitigating dependency on China and Taiwan, which are currently responsible for the vast majority of the global supply of advanced semiconductors. A recent report by the Semiconductor Industry Association (SIA) found that the United States was losing ground in microchip design to other countries, but the new legislation may help address this issue.
Responding to the Microchip Shortage
While laws like the CHIPS Act may have the potential to improve the future of US domestic computer manufacturing, many companies are facing more immediate issues with getting the electronic equipment they need. Because nearly all electronic devices rely on a number of different microchips to operate, a microchip shortage has long-ranging effects, from computers and phones to industrial equipment and cars.
As with any other form of shortage, the first and most important step to staying ahead of the challenges is to eliminate waste and get the most out of the equipment you have. While less obvious to some businesses, your company’s ESG policy and ITAD strategy can vastly increase the usefulness of electronic hardware.
For instance, data sanitization can make older hard drives usable once again, so you don’t need to spend as much on new hardware. Even when components are truly broken or obsolete, the right ITAD partner can ensure that you get value back on the ITAD market, offsetting the cost of new computers.
Get the Most Out of Your Company’s Computers with FAMCe
When it comes to choosing the right strategy for reusing and recycling your electronic devices, First America Metal Corporation (FAMCe) has you covered. We have been a world leader in electronics and metal scrap recycling and non-ferrous export for over 15 years. Our team has over 30 years of experience in reusing and recycling metal commodities, and we are known as one of the top five metal exporters in the entire Midwest.
FAMCe is a leading provider of data destruction services, offering a wide range of IT disposal solutions designed to meet our clients’ unique needs. We specialize in secure, innovative electronics recycling services for businesses that need to safely dispose of electronic scrap, high-temperature alloys, and non-ferrous scrap. Our level of expertise, unparalleled customer service, and aggressive pricing make FAMCe the leading option for almost any recycling need.
Need your hard drives and other IT assets safely decommissioned? Learn more and get in touch with us at famce.net.