Raimondo was speaking at an event at the Manassas, Virginia, site of memory chip maker Micron Technology Inc. and said that the anticipated funding could generate a total of more than $150 billion in investment after state, federal and private sector contributions are all included.
"We just need the federal money ... to unlock private capital. It could be seven, could be eight, could be nine, could be 10 new factories in America by the time we're done," Reuters quoted Raimondo saying. Raimondo said she expected individual states will compete for federal funding, the report added.
Elsewhere senator Bernie Sanders said he wants US chip companies to give the US government equity in return for federal grants under the scheme, according to a Bloomberg report.
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