Trump Establishes New Office to Oversee CHIPS Act and Accelerate Investments

The new Investment Accelerator will help ‘cut through red tape’ and allow businesses to quickly use capital and create jobs, according to the White House.

President Donald Trump signs an executive order in the Oval Office of the White House on March 31, 2025. Andrew Harnik/Getty Images

President Donald Trump signed an executive order Monday creating the United States Investment Accelerator, a new office within the Commerce Department aimed at streamlining the implementation of the CHIPS Act and expediting major corporate investments in the United States.

The office will oversee $52.7 billion in subsidies made available by the 2022 CHIPS and Science Act for semiconductor manufacturing and production.

According to a White House fact sheet, the Investment Accelerator will be responsible for “negotiating much better CHIPS Act deals than the previous Administration.” Specific details were not provided.

Trump previously criticized the bipartisan CHIPS Act, which was signed into law by President Joe Biden in August 2022. Earlier this month, Trump suggested that U.S. lawmakers should eliminate the program and use the funds to pay down national debt.

Beyond overseeing the CHIPS Act, the Investment Accelerator will have a broader mandate to facilitate large-scale investments in the United States. The executive order directs the office to assist investors navigating government regulatory processes, speed up permitting where legally possible, and increase access to national resources.

“The United States is the most powerful economy in the world, but slow, complex, and burdensome American regulatory processes at every stage of a company’s development and operation make significant domestic and foreign investment harder than necessary,” the executive order states.

The Investment Accelerator will help “cut through red tape” and allow businesses to quickly use capital and create jobs, without first needing to navigate through a “maze of bureaucratic hurdles.”

It will streamline processes, attracting both foreign and domestic investments and “reinforcing America’s position” as the number one destination for large-scale investment.

The new office will be staffed with legal, transactional, and operational personnel, at the direction of the commerce secretary. The executive order mandates that the office be established within 30 days, and the commerce secretary will coordinate with the treasury secretary and the assistant to the president for economic policy on how it is formed.

The executive order also directs the Investment Accelerator office to work with state governments “in all 50 States to reduce regulatory barriers to, and increase, domestic and foreign investment in the United States.”

So far, Trump has secured more than $3 trillion in private investments during his second term, according to the fact sheet.

The Semiconductor Industry Association said in a March 7 press release that companies in the semiconductor industry have announced over 100 projects across the nation, worth over half a trillion dollars in private investments, since the CHIPS Act was introduced in 2020.

The association said those projects are estimated to create over 500,000 jobs, which includes 122,000 construction jobs, 68,000 facility jobs, and over 320,000 additional jobs in the U.S. economy.

Reuters contributed to this report.

From NTD News