As the semiconductor shortage stretches into next year, Texas is stepping up to solve the crunch by bringing manufacturing to the state. Currently, only 12% of the world's semiconductors are manufactured in America, and that's continuing to strain production across every industry from auto to consumer electronics. Fox Business Network's Lydia Hu joined The Marc Cox Morning Show with more information.
"Back in the early 1990s, manufacturing of chips, about 35-percent, 36-percent of the worlds manufacturing capacity was in the United States," says Hu. The trend has been downward, "now, the US only has about 12-percent of that capacity to make semiconductor chips, and that's catching up to us."
A bipartisan measure is hoping to change that by investing in $52-billion in creating chips in the US. Texas is vowing to be the home of semiconductor manufacturing and is helping to bring in massive foreign investment, including Samsung's new $17-billion chip factory.
Hu is visiting Infineon Technologies plant in Austin, Texas where, "they are giving us great insight and understanding about what it takes to make these chips here. This plant, where we are, at Infineon, has been here 26-years in Texas."
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