business backgrounder | federal focus
In a column supporting the act , AWB president Kris Johnson wrote that it “ would make significant strides toward countering counterfeit goods and [ provide ] funding for supply-chain resiliency .” He also observed that Washington remains in the top 10 states for semiconductor manufacturing and is well-positioned for growth .
While most of the focus has been on the $ 51.5 billion dedicated to spurring domestic semiconductor manufacturing , the act also provides substantial funding for technology hubs , increased spending on applied research , energy innovation , a 25 % investment tax credit for semiconductor manufacturing equipment and facilities , STEM education , and workforce development . The total investment package is estimated to amount to some $ 250 billion .
Brown is enthusiastic about the $ 10 billion targeted for regional technology and innovation hubs . “ We ’ re really excited about that because Washington is already well-positioned to compete , thanks to our existing industry sector and regional development strategies and programs like our Innovation Cluster Accelerator Program ( ICAP ).”
She emphasizes the act ’ s focus on developing hubs in areas that are not already leading technology hubs . In Washington , that means places outside of Central Puget Sound . “ Supporting innovation clusters throughout the state is a long-term strategy to accelerate growth in key industries .”
The investment in workforce training and education will pay major dividends to Washington ’ s innovation cluster , according to Kelly Fukai , Washington Technology Industry Association Vice President for Government and Community Affairs .
“ Washington state is a global hub for technology innovation and entrepreneurship , with a significant reliance on a vibrant and skilled workforce ,” she says . “ The workforce development investments of the … act are critical to increasing access to STEM and tech career pipelines …” Lisa Brown agrees . “ STEM education is one of the big opportunities here to build on support for initiatives like AWB ’ s partnerships for rural STEM education and remote worker education ,” says Brown . “ A skilled workforce is hands down the number one need of every business in Washington , regardless of size .”
Fukai provides data underscoring the point : “ In Washington state alone , over 20,000 technology jobs each month go unfilled . These are family-wage jobs with an average salary of $ 112,000 … This landmark legislation will enable government and industry to deepen cooperation with the K-12 system , community and career technical colleges , and higher education partners on STEM workforce development to
“ The workforce development investments of the act are critical to increasing access to STEM and tech career pipelines .”
— Kelly Fukai , vice president for government and community affairs , Washington Technology
Industry Association
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