The bill is intended to increase global competitiveness in industries deemed critical, with $250 billion of government investment. Approximately $52 billion is to fund semiconductor research, design and manufacturing initiatives. The US Commerce Secretary expects implementation of the policy to unlock private investment, resulting in $150 billion or more in funding for 7 – 10 new US-based factories. Several companies have announced ambitious expansion plans in the US. Intel expects to invest $20 billion in two new manufacturing facilities in Arizona, Samsung intends to spend $17 billion for a new plant in Austin that would support the advanced 5 nanometer (nm) process, and TSMC announced a $12 billion plan to build a new 5nm plant in Arizona with reports suggesting the company is considering up to five additional plants. Fitch believes federal and state support are essential to unlock private investment and ensure projects come to fruition.