TC Microchips Welcomes U.S. State Department’s Investment in Latin American Semiconductor Supply Chains

TC Microchips, a leading semiconductor manufacturer based in Santiago, Chile, proudly applauds the U.S. State Department’s pivotal decision to invest $500 million over the next five years in the CHIPS ITSI Western Hemisphere Semiconductor Initiative. This strategic investment aims to enhance assembly, testing, and packaging supply chains in Latin America, helping to reduce the industry’s dependence on Asian markets.

The CHIPS ITSI initiative marks a key moment for the semiconductor industry in Latin America, fostering collaboration and innovation with its northern neighbors while reinforcing the region’s standing as a vital hub for semiconductor production. By investing in local supply chains, this initiative not only aims to create new jobs but also to ensure a more resilient and secure semiconductor ecosystem in the Western Hemisphere.

“Today’s announcement is a game-changer for our industry,” said Luis Fernández, CEO of TC Microchips. “This investment reminds us of the importance of building robust supply chains closer to home, and we are excited about the potential it holds for enhancing our capabilities and fostering economic growth in our region. Although Chile is not on the list of the first countries to reap the benefits of this significant investment, the precedent is an exciting development and bodes well for future inward investment.”

The initiative will support the development of cutting-edge technologies and infrastructure that are critical to the semiconductor supply chain. By facilitating investment and partnerships within the region, TC Microchips anticipates increased collaboration with local governments, research institutions, and private sector players to drive advancements in semiconductor technology.

“We’re thrilled to see the U.S. taking a proactive approach to bolster semiconductor production in Latin America,” added Bloggs. “This investment is not just about reducing dependence on Asia; it is about establishing a thriving semiconductor ecosystem that benefits all players involved and strengthens our economies.”