President Biden toured an IBM facility in the Hudson Valley of New York on Thursday after the company announced it would invest $20 billion across the region.
Mr. Biden has increased his travel schedule to promote the achievements of his administration. He pointed to an industrial bill he signed in August that provides subsidies to companies that sign up to jump-start domestic production of Semiconductor chips.
The White House has held up the law as a way to keep up with China and other countries that give subsidies for the production of semiconductors, which are critical components in everything from phones to military technology.
Mr. Biden said that more would change in the next 10 years. It is written that we can't be the manufacturing hub of the world. There are many reasons to be positive.
The legislation contains subsidies and tax credits for companies that manufacture chips in the United States, with more than half of the amount dedicated to helping companies build facilities for making, assembling and packaging some of the world's more advanced chips
IBM hailed the bill for its effort to "secure supply of next- generation chips for today's computers and artificial intelligence platforms as well as fuel the future of quantum computing by speeding research, expanding the quantum supply chain, and providing more."
The announcement by IBM came two days after Micron Technology said it would spend as much as $100 billion over the next two decades to build a computer chip factory in upstate New York.
The chief executive of the company said on Tuesday that they would not be here today if it weren't for the act.
Mr. Biden said that the law would boost American competitiveness in research and technology at a time when other countries are doing better.
Mr. Biden said that any company that uses federal research and development funding will have to make the product in America. This is about the economy. National security is at the center of it. You can raise a family with good paying jobs.
The bill's bipartisan support, coupled with a windfall of pledged investment from large technology companies, is the sort of accomplishment that could appeal to voters, according to administration officials. There were 17 Republicans who voted for the bill in the Senate.
Mr. Biden accused the Chinese government of being against the law. Mr. Biden said that the Chinese Communist Party lobby against the CHIPS and Science Act. Some of our friends purchased it.
The chairman of the House Democrats campaign arm, Sean Patrick Maloney of New York, accompanied the president on his trip. Kathy Hochul was the governor of New York.
The visit of Mr. Biden was intended to boost the fortunes of two Democrats who are in close races next month. The Hudson Valley is a part of Mr. Maloney's district.
Mr. Ryan, who won a special House election in August, is in a tight race for the swing- district seat. June's Supreme Court decision that ended the constitutional right to abortion may have an effect on the upcoming elections.
Mr. Biden went to Red Bank, N.J., to attend a reception for the DNC. He was going to attend another reception on Thursday.
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