Rep. Stansbury Celebrates Historic Investments Through CHIPS & Science Act

August 13, 2024
Press Release

The legislation was signed by President Biden two years ago

ALBUQUERQUE—U.S. Representative Melanie Stansbury (NM-01) celebrates historic investments in New Mexico on the second anniversary of the CHIPS and Science Act.  

"Thanks to the Biden-Harris Administration's CHIPS and Science Act, the technology and innovation sectors are thriving in New Mexico," said Rep. Melanie Stansbury (NM-01). "I was proud to vote in support of this historic piece of legislation that paved the way to investing billions in domestic manufacturing, lowering costs for New Mexico’s families from dishwashers to cars to everything in between for the last 24 months. The CHIPS and Science Act paved the way for innovation and job creation - keeping manufacturing jobs in America and has created thousands of new jobs across our state." 

The CHIPS and Science Act was signed by President Biden on August 9, 2022, investing nearly $53 billion in research, semiconductor manufacturing and development, and workforce across the country.  

Rep. Stansbury partnered with Sen. Ben Ray Luján (D-NM) ensuring the Department of Energy’s Foundation for Energy Security and Innovation (FESI) was included into the legislation. FESI ensures the United States can continue to lead the transition to clean energy and innovative energy research, development, and deployment. Earlier this year, the inaugural board of the foundation was announced. 

CHIPS AND SCIENCE ACT IN NEW MEXICO:  

Two major projects in New Mexico have been funded by the CHIPS and Science Act. 

  • In June 2024 - $23.9 million was awarded to Rocket Lab, formerly SolAero, in Albuquerque so the company can produce compound semiconductors for satellites and spacecraft. This is investment secures an expansion and will increase Rocket Lab’s compound semiconductor production by 50% to help meet the growing national security and commercial demand for these solar cells in the United States. 

  • In March 2024 - $250 million was awarded to Intel in Rio Rancho as part of a four-state split of $8.5 billion. The project is expected to bring 700 manufacturing jobs and 1,000 construction jobs to New Mexico.  

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