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SEMI Commends Congress for Passage of Critical Tax Extensions
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WASHINGTON, DC -- (Marketwire) -- 10/03/08 -- SEMI joins many others in the businesscommunity in commending Congress for taking action to stabilize the economythrough passage of the financial rescue package. This package includedextension of many tax measures, such as an eight-year extension of theinvestment tax credit (ITC) for solar energy through 2016 and a two-yearextension of the R&D tax credit through 2009. The R&D tax credit expiredon December 31, 2007 and the solar energy ITC was set to expire at the endof this year.
"The financial rescue package is an important first step in containing thecurrent economic challenges that affect so many," said Victoria Hadfield,president of SEMI North America. Hadfield continued, "In particular, theextension of critical tax measures will have a significant impact on theeconomy through the creation of many new highly skilled positions andensuring a continued U.S. leadership position for technological innovation.SEMI commends the Congress for their commitment to basic research and topromoting a solar energy industry in the United States."
In a study recently released by Navigant Consulting, Inc., researchersestimated that extending the solar ITC for a full eight years could support1.2 million employment opportunities, including 440,000 permanent jobs. Inaddition to the creation of jobs, the report estimates $232 billion ofinvestment in the solar energy industry in the United States during thistimeframe.
SEMI represents nearly 800 member companies in the United States, many ofwhich are also involved in the development of photovoltaic technologies.These companies face steep costs due to the intricate challenges ofdeveloping new generations of microelectronics and related technologies.There is heavy spending on R&D, and on average, companies reinvest about10-15 percent of revenues in R&D for advanced manufacturing processes andtechnology.
SEMI is the global industry association serving the manufacturing supplychains for the microelectronic, display and photovoltaic industries. SEMImember companies are the engine of the future, enabling smarter, faster andmore economical products that improve our lives. Since 1970, SEMI has beencommitted to helping members grow more profitably, create new markets andmeet common industry challenges. SEMI maintains offices in Austin,Beijing, Brussels, Hsinchu, Moscow, San Jose, Seoul, Shanghai, Singapore,Tokyo, and Washington, D.C. For more information, visit www.semi.org.
ASSOCIATION CONTACTKen SchramkoSEMITel: 1.202.289.0440E-mail: Email ContactScott SmithSEMITel: 1.408.943.7957E-mail: Email Contact
In a study recently released by Navigant Consulting, Inc., researchersestimated that extending the solar ITC for a full eight years could support1.2 million employment opportunities, including 440,000 permanent jobs. Inaddition to the creation of jobs, the report estimates $232 billion ofinvestment in the solar energy industry in the United States during thistimeframe.
SEMI represents nearly 800 member companies in the United States, many ofwhich are also involved in the development of photovoltaic technologies.These companies face steep costs due to the intricate challenges ofdeveloping new generations of microelectronics and related technologies.There is heavy spending on R&D, and on average, companies reinvest about10-15 percent of revenues in R&D for advanced manufacturing processes andtechnology.
SEMI is the global industry association serving the manufacturing supplychains for the microelectronic, display and photovoltaic industries. SEMImember companies are the engine of the future, enabling smarter, faster andmore economical products that improve our lives. Since 1970, SEMI has beencommitted to helping members grow more profitably, create new markets andmeet common industry challenges. SEMI maintains offices in Austin,Beijing, Brussels, Hsinchu, Moscow, San Jose, Seoul, Shanghai, Singapore,Tokyo, and Washington, D.C. For more information, visit www.semi.org.
ASSOCIATION CONTACTKen SchramkoSEMITel: 1.202.289.0440E-mail: Email ContactScott SmithSEMITel: 1.408.943.7957E-mail: Email Contact
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