This Content Is Only For Paid Member
The flourishing US semiconductor industry, driven in part by the CHIPS Act, faces a significant challenge: a critical labor shortage influenced by immigration hurdles.
A report by the Semiconductor Industry Association and Oxford Economics predicts 85,000 new technical jobs in the industry by 2030, with projections indicating that nearly 80% of these positions may remain unfilled.
One-third of the semiconductor industry workforce is foreign-born, further exacerbating the labor shortage and necessitating immigration reform.
The recent delay of Taiwan’s TSMC’s Arizona plant due to a lack of specialized workers underscores the urgency of the situation.
The US government currently allocates limited H-1B visas annually, hindering the recruitment of foreign talent, despite the demand for skilled workers.
The existing immigration system, designed decades ago, does not align with the current economic landscape, necessitating an overhaul to meet the workforce demands of the 21st century.
Overhauling the immigration system would not only benefit the semiconductor industry but also the broader US economy. Immigrants contribute significantly to federal income tax revenues, and the US population’s growth has largely been driven by immigration in recent years.
The US faces potential population decline due to declining birth rates and an aging workforce, which immigration can mitigate.
Without immigration reform, the US risks losing top talent to countries with modernized immigration systems, particularly in industries with high demand for skilled workers.
The CHIPS Act has spurred significant investment in the semiconductor industry, making it crucial to address immigration challenges and retain top talent.
The US semiconductor sector plays a leading role in scientific advancements, including artificial intelligence, biomedical research, clean energy, and decarbonization.
Designing a workforce that can lead in education and innovation is a pivotal goal requiring proactive immigration reform.
In conclusion, the labor shortage in the US semiconductor industry is exacerbated by outdated immigration policies, necessitating immigration reform to retain top talent and maintain its global leadership in critical scientific advancements.
