The U.S. Commerce Department said it plans to ask companies seeking at least $150 million in funding from a $52 billion semiconductor law to submit a plan for how they will provide affordable childcare for their workers
Nobel laureate Joseph Stiglitz said on Twitter lack of childcare is a significant barrier to labor force participation. "Worker scarcity is a significant challenge in our economy, especially in high-tech industries. The provision that companies receiving CHIPS money provide childcare for workers is an important component."
The department on Tuesday will outline other factors it will consider in making awards. The law prohibits applicants from using government funds for dividends or stock buy backs. Last week, Commerce Secretary Gina Raimondo said the funding will create hundreds of thousands of good jobs.
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