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Commerce Officials to Detail Chips Act Application Process This Month
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WASHINGTON—The Commerce Department plans to release details on how companies can apply for subsidies to help expand domestic semiconductor production under the Chips Act later this month, setting off a race among U.S. and foreign manufacturers vying to get a piece of $52.7 billion in federal funds.
The announcement, expected in late February, will include specific steps companies will need to take to apply for funds, along with a timeline of when grants will be awarded, according to Commerce officials.
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