Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today welcomed the release of a report by the Biden Administration on solutions to strengthen U.S. supply chains for semiconductors and other critical products. The following statement can be attributed to Carl Holshouser, Senior Vice President, TechNet:

“Semiconductors power the technologies that drive innovation, fuel economic growth, enable our global competitiveness, and strengthen national security. Every industry and sector of our economy relies on semiconductors. That is why it’s so important to find solutions that address the growing need for chips.

“We applaud President Biden and his administration for examining our critical supply chains and calling for increased federal investment in domestic battery, mineral, and semiconductor production. This investment will spur innovation and economic growth and add countless jobs while strengthening America’s global competitiveness. As the report makes clear, it is critical for the U.S. to develop domestic manufacturing for essential technologies as soon as possible. We look forward to working with the President and Congress to fully implement the CHIPS Act to increase chip production, incentivize manufacturing and innovation, and drive our economy forward.”