'The future of chips industry is made in America' -Biden
STORY: IBM's announcement is the latest in a string of investments since Biden signed the Chips and Science bill in August, which funded $52 billion to subsidize semiconductor chips manufacturing and research.
The administration said that hefty subsidies for private businesses are necessary because China and the European Union had been awarding billions in incentives to chip companies.
Biden has sought to capitalize on the investment announcements ahead of next month's midterm congressional elections. Last month, he traveled to Ohio to speak at the site of Intel's planned $20 billion semiconductor manufacturing facility.
