Major news broke last month when Congress passed the CHIPS Act of 2022.
This new endeavor aims to strengthen domestic semiconductor research and manufacturing in a concentrated effort to reverse the downward trend of semiconductor production in the U.S.
As a result, nearly every industry will be (hopefully positively) impacted.
Semiconductors are a critical component of electronic chips that control the electric current in devices like computers, cell phones, vehicles, medical instruments and industrial technology – among many others.
At a minimum, an increase in semiconductor production means that more products can be developed. This will immediately help companies be in a better position to expand their customer base, upgrade facilities and equipment, and improve their bottom-line revenue.
What This Could Mean for Your Business
Given this monumental initiative and the expected output, this could mean quite a bit for numerous industries, and the time to ride the momentum wave is here.
At a high level, if you produce or sell products that utilize conductors, then now is an opportune time to elevate your marketing efforts with this in mind.
In all likelihood, the increase in semiconductor availability has the potential to bolster overall production in your operation, giving your customers and partners more opportunities to buy and use the products you provide.
Businesses can get ahead of the curve by starting to ramp up the promotion of their products and services so that customers and suppliers will be ready for the uptick in production.
For help with strategically planning new marketing initiatives around this groundbreaking news, reach out to the experts at DeanHouston+ today.