Companies that are thinking about investing in new or existing fabs currently have many options to reduce capital outlays. The CHIPS Act includes two major components related to production and facilities, including an Advanced Manufacturing Investment Tax Credit and a competitive grant process; while the CHIPS for America Workforce and Education Fund offers loans for workforce development activity. State-level funding can also significantly offset the costs of building and staffing new fabs.

Semiconductor companies need more than funding to build fabs and ramp up production. They also need talent — both construction labor in the short term and a sustainable pool of engineers to work in fabs once they are operational.

The CHIPS Act and other incentive programs have the potential to not only increase semiconductor production and create jobs, but also to reshape real estate markets. As new semiconductor ecosystems emerge, experienced partners can help guide the way. Skilled project managers can help secure construction labor, keep projects on track and manage the many details of relocations. Real estate experts can help find space in emerging hubs, provide advice on integrating a new fab into a portfolio and deliver intelligence on the latest workplace amenities companies are using to attract and retain skilled talent. Additionally, facility management partners can simplify the work of finding experienced talent to keep sites operating smoothly.

Companies that successfully navigate real estate and workforce challenges will be well-poised to drive value from the plentiful government incentives available today.