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WASHINGTON - A Taiwan-based company said it plans to build a $5 billion factory in Texas to make silicon walers used in semiconductors. but the deal hinges on financial incentives bogged down in Congress. GlobalWalers Ca. on Monday said its planned factory in Sherman. Texas. would be the firs U. S. silicon wafer-acility in more than fwo decades and create as many as 1,500 jobs, as well as helping fuel the expansion of the U.S, chip-making industry But company executives said the plant will require financial incentives included in the Chips Act, which is aimed at increasing chip production in the U.S. and is part of legislation that House and Senate leaders have been debating for months. If the Chips Act is not passed, we have to pivot to South Korea," said the company's president, Mark England, who said costs there would be substantially less. Commerce Secretary Gina Raimondo said the situation points to the urgent need to pass the leginitation, noting that South Kocea. Japan and members of the European Union are all offering hefty subsidies to encure atable supplies of chips that power consumer, industrial and milary products amid a global shortage. "We are really at a tipping point right now in the semiconductor supply chain" Ms. Haimondo said. "Either the United States is going to be a big winner in that well be able to attract a number of companies:" Ms. Faimondo sabd "ot, if Congress doesn't past the Chips Act in the next few weeks, then the United States will be a big loser because these companies will go to other countries:" https:/www.wsj.com/story/there-arent enough-chips-why-are-they-so thard to-make-3e29c7e0 PHOTOS: There Aren't Enough Chips - Why Are They 50 Hard to Make?. PHoto- Caitlin Ochs for The Wall Street Joumal The Chips Act would provide roughly $52 billion to build up the U.S. semiconductor industry, but the funding has been tied down as Senate and House leaders try to resolve ditferences between a broader Senate bill passed last year as the US. Innovation and Competition Act, and the Hovse version called the America COMPETES Act Demsocrats have cast the legislation as the centerpiece of their efforts to rein in inflation for American consumers, contending that its funding could help control soaring prices for many items including automobiles that have been affected by semiconductor shortages. The Senate version was passed with bipartisan suppoct last year, but the House bill was approved on a party line vote with measures on trade, climate change and human rights that Republicans oppose. "Although I hope to see significant progress soon, we should not rush the cocference process to meet arbitrary and politically motivated deadlines," Sen. Rogef Wicker (R., Miss.) the top Republican on the Senate Commerce Committee, ssid recently. The growing doubts about the legislation last week led intel Corp to tell lawmakers and officials that it was indefinitely delaying a groundbreaking ceremony for a planned multibition-dollar chip-manufacturing facility in ohio. The move signaled the industry's frustration over uncertainty in Congress about the legislation. Intel still plans to build the facility and hasnt pushed back the start of construction, said lntel spokesman Will Moss. Intel, which announced the plant plans in January, said it intended to inveat at least $20 billion in the Ohio facility. with construction emected to begin in late 2022 and production to start in 2025 Democratic leaders insist they have made significant concessions. House Speaker Nancy Pelosi suggested last week that Republicans are trying to drag out House-Senate negotiaticns over the legislation in hopes of denying Democrats a badly needed: on the economy ahead of the November mi "The real question is, do the Republicans in the Senate really want America to be independent?" Mrs. Pelosi said at her Friday news conference. "Do they really want to bring back jobs, to be 'Make It in America' and allocate the resources to make sure that happens?" Some Republicans insist that the negotiations remain likely to produce a deal. "It's more likely than not" that a compromise will be reached in coming weeks, Sen. Todd Young (R., Ind.) said recently. "Im optimistic." But other Republicans for their part say that Democrats, especially in the House, have been slow to move off positions that they know are untenable in the closely divided Senate. "Both parties and chambers are still very far apart on major policy issues," one GOP legislative aide said earlier this month. "At the current rate, it is hard to see this bill passing in its present form before August: Democratic leaders are hoping to reach an agreement in principle with GOP leaders this week, and then aides can tum that agreement into legislative text next week. But fitting together all the puzzle pieces in the sprawling legislative package has proved tricky, even aside from the political calculations. Senate Republicans hold unusual leverage over the process, and many have been insisting that the final legislation hew closely to the original bipartisan Senate bill. Some provisions of that legislation are strongly opposed by House Democrats, who passed their own legislation earier this year with policy on trade, climate change and human rights that Republicans oppose. Some Republicans are feeling their own pressure to come to agreement, because without a legislative deal they face the risk of losing out on new semiconductor investments in their states. The GlobalWafers plant in Texas would contribute to a U.S. effort to boost domestic production of advanced semiconductors and reduce reliance on imports by supplying materials to companies such as intel and Taiwan Semiconductor Manufacturing Co. These leading semiconductor manufacturers have pledged significant investments in new U.S. factories to make chips to meet strong demand, and to relieve shortages that have disrupted production of a range of products, including automobiles. The existing U.S. manufacturing capacity of silicon wafers will be able to supply only 20% of the estimated domestic demand by 2025 , and the wafers won't be suitable for some of the advanced chips planned to be manufactured at the new production facilities currently being built by Intel, TSMC and Samsung Electronics Co., GlobalWafers said. Most advanced semiconductors, as well as silicon wafers, are manufactured in Northeast Asia. in 2021, 92% of the world supply of advanced semiconductors came from one company, TSMC, according to a White House report. Ms. Raimondo pointed out that the U.S. share of the global semiconductor market has fallen to 10512% from 40% previously. "In search of cheap labor, we've watched a lot of our manufacturing leave our shores," she said. "As a result, the lack of chip production in the United States is hurting our economy and also our national security." Write to Yuka Hayashi at yuka hayashi@wsj.com and John D. McKinnon at john.mckinnon@wsj.com Taiwan Company Plans Texas Chip Wafer Factory-if Congress Approves Incentives Credit: By Yuka Hayashi and John D. McKinnon Copyright 2022 Dow Jones \& Company, Inc. All Rights Reserved