— Experts say Taiwan’s semiconductor industry will remain critical to the U.S. economy and national security despite investments from the CHIPS and Science Act.
Mike Splinter, chairman of the U.S.-Taiwan Business Council and general partner at WISC Partners in Madison, discussed this topic yesterday during a webinar hosted by UW-Madison’s Wisconsin Alumni Association. He highlighted the over $50 billion included in the law to incentivize semiconductor production and research in the United States. It was signed into law this week.
“Many universities will be involved in this research, depending on their area of expertise,” he said. “Hopefully the result is a workforce … that are going to be better suited to be able to do research in the semiconductor area, and once again return the United States to preeminence in the semiconductor industry.”
Almost every industry around the world relies on semiconductors, which are critical for computers and vehicles as well as most defense and national security applications, he explained. While the United States makes just 12 percent of the world’s semiconductors, it consumes over 50 percent. And while China is spending more than the United States on building new semiconductor factories, neither country makes the most advanced of these chips.
Taiwan currently produces 92 percent of the world’s most advanced semiconductors, Splinter said. And even with the billions of dollars going into the U.S. semiconductor industry and education pipeline due to the CHIPS and Science Act, he said Taiwan will still be producing at least 70 percent of the most advanced chips in the world in 10 years.
“No matter what we do, no matter how much money we allocate, it can’t happen that fast,” he said.
Alan Yeung, a professor of practice in the UW-Madison College of Engineering, also emphasized the importance of Taiwan to the evolving global economy. Before taking the position with the university, Yeung was formerly the director of U.S. strategic operations for Foxconn, which is based in Taiwan.
“You look at technology, information and business processes, that’s all changing,” he said. “And Taiwan plays a very strategic role in partnership with the United States.”
He noted many businesses and countries are avoiding taking sides amid tensions between Taiwan and China, which were inflamed recently by House Speaker Nancy Pelosi’s visit to Taiwan.
“I think it’s in the best interest that we find a way to cool off the tension, and find ways to … de-risk and actually de-escalate the situation,” he said.
Splinter pointed to China making a show of force during Pelosi’s visit to Taiwan, but added China’s economy is just as dependent on advanced semiconductors as that of the United States. He argued China would “kill the golden goose” if it attacked Taiwan, noting such an assault would throw “the world economy back to the dark ages of maybe the ‘60s.”
“For 10 years at least, and probably much longer, Taiwan is going to be critical to the U.S. economy and U.S. security,” Splinter said. “We have to continue to work to mitigate that risk, but it’s going to take a long time to make significant progress in that area.”
Watch the video: https://www.youtube.com/watch?v=pl4XKYpDHoA
— Four transportation infrastructure projects in the state are getting $31 million in federal funding, says the office of U.S. Sen. Tammy Baldwin, D-Madison.
The funds come from the RAISE Discretionary Grant program, which supports road, rail, transit and port projects. The Infrastructure Innovation and Jobs Act allocated $1.5 billion to this program for 2022, a Baldwin release shows.
Beloit is getting about $13.5 million for safety improvements, a new bridge, road reconstruction, three new multi-lane roundabouts and improvements to railroad crossings.
Forest County and the Potawatomi Community are getting $9.5 million to build a 4.8-mile walking and biking path to connect the city of Crandon with the Forest County Potawatomi Community Stone Lake reservation lands, and the Otter Springs Recreation Area. Funds will also be used for a short pathway within the FCPC Government complex and a 1.64-mile ATV trail.
Sheboygan is getting $5.3 million for a shared-use swing bridge over the Sheboygan River, connecting two waterfront districts.
And the Oneida Nation is getting about $3 million for engineering, design and construction work on the Oneida Transit bus garage.
— State officials have announced the opening of Milwaukee Tool’s new manufacturing site in West Bend, which will make tools for plumbing, electrical and mechanical trades.
According to a release from Gov. Tony Evers, the company has invested $55 million to build and outfit the new 95,000-square-foot facility. The company also has first right of refusal to purchase another 20 acres for potential expansions to the facility, located 20 minutes from Milwaukee Tool’s Brookfield headquarters.
Evers and the Wisconsin Economic Development Corp. in May announced $22.5 million in Enterprise Zone tax credits for the company. That brings the state’s total support for Milwaukee Tool to $70.5 million, the release shows. The company can earn the tax credits by meeting certain job creation and capital expenditure goals.
“Wisconsin has been our company’s home for nearly 100 years — we’re thrilled to continue our growth here where we’ve been able to recruit some of the best talent in the country,” Tom Albrecht, president of the company’s hand tools and storage division.
The business currently employs more than 3,700 people in the state, and the new West Bend facility is expected to support 150 new jobs.
See the release: https://www.wispolitics.com/2022/gov-evers-wedc-company-officials-and-gov-evers-celebrate-opening-of-milwaukee-tools-newest-u-s-manufacturing-plant/
See the May release: https://content.govdelivery.com/accounts/WIGOV/bulletins/3175418
— About 3,300 vials of monkeypox vaccine have arrived in Wisconsin, according to state health officials.
Dr. Ryan Westergaard, chief medical officer for the Department of Health Services Bureau of Communicable Diseases, said the state has been allocated just under 6,000 doses of the JYNNEOS vaccine. Doses will be delivered in several phases, and the state will be eligible to request more on Monday.
A total of 32 cases of monkeypox have been identified in Wisconsin so far. Westergaard said the virus is having an outsized impact on members of the LGBTQ community, with the highest number of infections occurring among men who have sex with men, as well as transgender and nonbinary people.
“In addition to vaccination, DHS encourages individuals to take precautions to prevent disease,” he said. “Monkeypox does not spread easily from person to person. Most cases that have been investigated by public health in Wisconsin and nationally were transmitted through close skin-to-skin contact during sex.”
Vaccines in the state are being distributed through hubs in Eau Claire, Green Bay, Madison and Milwaukee. More than 40 clinical and public health sites around the state will be administering vaccines, Westergaard said.
He explained each vaccine vial was initially designated to contain a single vaccine dose. But FDA officials yesterday implemented new guidance that each vial could be used to vaccinate up to five people using an alternate dosing method.
“This is a new development, potentially very high-impact, positive development,” Westargaard said.
As of Tuesday, a total of 600 doses had been administered and Westergaard said that number is “rapidly increasing.” He noted appointments are filling up quickly.
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#TOP STORIES#
# Georgia-Pacific brings employment to just 70 people at Day Street Mill
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# Milwaukee Tool’s sales up 25.8% in first half of the year
#TOPICS#
# AGRIBUSINESS
– Wisconsin FFA members named National Proficiency Finalists
# EDUCATION
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# MANUFACTURING
– Dead Bird grows product lines as it awaits brew house startup, Gathering Place adds hours: Beer Biz MKE
– Milwaukee Tool opens West Bend plant
– Milwaukee Tool opens latest manufacturing plant
# MEDIA
– Green Bay Packers’ new Milwaukee radio home to include Shanna Quinn of FM 106.1
# POLITICS
– Wisconsin Building Trades Council endorses Barnes in Senate run, other Democrats
# REAL ESTATE
– Illinois investor buys 175-unit Brown Deer apartments from local firm
# SMALL BUSINESS
– Coffee stand chain 7 Brew expanding into Wisconsin with Brookfield location
# SPORTS
– X-Golf facility at American Family Field set to open next month
# TOURISM
– $70 million super yacht docks at Discovery World
# TRANSPORTATION
– City of Beloit receives nearly $13.5M RAISE grant for road improvements
– High-tech Clear security lanes added at Mitchell International Airport
# PRESS RELEASES
<i>See these and other press releases:
https://www.wisbusiness.com/press-releases/ </i>
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