Will grow market to $76 billion through increased market share overseas by U.S.-headquartered companies, and increased activity in the U.S.
The Semiconductor Industry Association (SIA) has submitted a report to the U.S. Department of Commerce outlining actions required to meet the goal of doubling semiconductor exports by 2014.
"The semiconductor industry strongly supports the goal of doubling U.S. exports over the next five years as outlined by President Obama in his State of the Union Address," said SIA President George Scalise. "Over the past five years, semiconductors have been America' number-one export product, averaging $48 billion per year in international sales."
The SIA report models a doubling of chip exports to $76 billion in 2014 through a combination of market growth, increased market share overseas by U.S.-headquartered companies, and increased activity in the U.S.
"Projected growth of the global semiconductor market will drive U.S. semiconductor exports to $56 billion in 2014 if we merely maintain our current market share," said Scalise.
The SIA policy recommendations included:
- Putting funding for basic research at national laboratories and U.S. universities on path to double by 2016.
- Enacting tax policies that will retain and attract investment in R&D and manufacturing facilities in America.
- Reforming U.S. export controls and streamlining the licensing process.
- Providing incentives to promote energy efficiency and development of renewable energy sources.
- Avoiding climate change policies that add costs, limit flexibility, and otherwise make U.S. companies less competitive.
- Enhancing the U.S. workforce through education reform, expanding research programs at U.S. universities, and immigration reform to make it easier for foreign students graduating from U.S. universities with masters and PhD degrees to obtain green cards.