Industry leaders and the Economic Innovation Group have put forward the Chipmaker’s Visa initiative, aimed at addressing the limitations of the current U.S. H-1B Visa system in meeting the semiconductor sector’s specific requirements.
The Chipmaker’s Visa is designed to streamline the process of bringing skilled labor from overseas to supplement the U.S. workforce in this vital industry. The proposal allows for an auction of 2,500 specialized visas each quarter, totaling 10,000 annually. This auction is restricted to companies categorized under relevant North American Industry Classification System codes, ensuring the visas are allocated to the semiconductor sector. Additionally, these visas would be renewable once, offering a maximum tenure of 10 years.
The program is expected to offer multiple benefits. It aims to provide a more efficient pathway for hiring skilled international workers, potentially reducing the semiconductor industry’s dependence on the H-1B visa system, known for its restrictive lottery system and country caps. The extended duration of the Chipmaker’s Visa is designed to offer a temporary but critical solution while there are ongoing efforts to build a stronger domestic workforce.
According to a report by Deloitte, the U.S. needs to add one million additional skilled workers in the semiconductor industry by 2030 to avoid a crisis — equating to about 100,000 annually. The necessity of such an initiative has been illustrated in Arizona, where Taiwan Semiconductor Manufacturing Company has experienced delays due to a shortage of skilled workers. Mark Liu, TSMC’s chairman, highlighted the challenge of insufficient skilled labor for equipment installation in semiconductor-grade facilities. The Chipmaker’s Visa, therefore, stands as a strategic measure to address the immediate labor needs in the U.S. semiconductor industry, providing a critical window for Arizona and the nation to develop long-term solutions to bolster the domestic talent pool in this technologically crucial sector.
