The Platinum Card® from American Express vs. The Business Platinum Card® from American Express: Which premium card is right for you?

Business News

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. 

Amex Platinum vs. Amex Business Platinum at a glance

Annual Fee

Both the Amex Platinum and Amex Business Platinum charge a substantial annual fee of $695. This high fee reflects the ultra-premium benefits and services offered by both cards.

Winner: Tie. 

Rewards

Both cards offer valuable Membership Rewards points, but with different earning structures:

Amex Platinum:

5x Membership Rewards® Points for flights booked directly with airlines or with American Express Travel (up to $500,000 on these purchases per calendar year)

5x Membership Rewards® Points on prepaid hotels booked with American Express Travel

1x points on other eligible purchases

Amex Business Platinum:

5x points on flights and prepaid hotel stays booked through amextravel.com

1.5x points on qualifying purchases of $5,000 or more (on up to $2 million per card account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus)

1x points on all other eligible purchases

Winner: The Amex Business Platinum edges the personal Platinum card out thanks to its 1.5x bonus categories, which can be particularly valuable for business owners with high expenses.

Redeeming Rewards

Both cards allow you to redeem points through Amex Travel or transfer to travel partners. Both cards have access to an identical lineup of transfer partners, which you can learn more about in our complete guide to Membership Rewards. Transferring points to partners is by far the most lucrative way to use your points, with one possible exception. 

Here’s the key difference: The Amex Business Platinum offers a 35% points rebate when you use Pay with Points for first or business class flights on any airline, or economy flights on your selected qualifying airline (up to 1 million points back per calendar year).Winner: The Amex Business Platinum wins for its 35% points rebate, which can significantly boost the value of your points for certain flight redemptions.

Welcome Offer

The Amex Platinum currently offers 80,000 Membership Rewards® Points after spending $8,000 on purchases on the Card in your first 6 months of card membership.

The Amex Business Platinum offers 150,000 Membership Rewards® points after you spend $20,000 in eligible purchases within the first 3 months of card membership.

Winner: The Amex Business Platinum offers a higher welcome bonus, but it also requires significantly more spending in a shorter time frame. For businesses that can meet the higher spending requirement, it’s the clear winner. But it’s important to mention that Amex frequently has targeted offers so you may see different welcome bonuses even if you use a different browser or an incognito window. 

Perks

Both the Amex Platinum and Amex Business Platinum offer a wide array of premium benefits, many of which come in the form of statement credits. It’s important to note that these credits are often distributed in monthly or semi-annual increments and are typically use-or-lose, meaning unused credits don’t roll over.

Before I list them, I want to really stress how exasperating it can be to have either version of the Amex Platinum when it comes to using these credits. Even as someone who has been writing about credit cards for over a decade, I lose value on my Platinum card unless I remember to order UberEats by the last day of the month. So keep the breakage in mind when you consider the credits. 

The Platinum Card® from American Express:

up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your card

up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash is available to Basic Card Member only (Terms Apply)

up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay

Up to $240 digital entertainment credit ($20/month for select streaming services)

Up to $155 Walmart+ credit ($12.95/month)

Up to $100 Saks Fifth Avenue credit (given in $50 increments semi-annually. $50 Jan-June, $50 July-Dec)

Up to $300 Equinox credit ($25/month)

$199 CLEAR® credit

$120 Global Entry or $85 TSA PreCheck® credit (every 4 years)

Airport lounge access (including Centurion Lounges, Delta Sky Clubs when flying Delta, and Priority Pass Select)

Hilton Honors Gold status

Marriott Bonvoy Gold Elite status

Rental car elite status with Hertz Gold Plus Rewards, Avis Preferred, and National Car Rental Emerald Club Executive

Travel and purchase protections

The Business Platinum Card® from American Express:

Up to $200 in statement credits per calendar year when incidental fees are charged by the airline to the card (select one qualifying airline)

Up to $400 Dell technologies credit ($200 Jan-June, $200 July-Dec) until December 31, 2024

Up to $360 Indeed credit ($90 per quarter)

Up to $150 Adobe credit ($150 annual)

Up to $120 wireless credit ($10/month on U.S. wireless telephone services)

$199 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal)

$120 Global Entry or $85 TSA PreCheck® credit (every 4 years)

Airport lounge access (including Centurion Lounges, Delta Sky Clubs when flying Delta, and Priority Pass Select)

35% Airline Bonus when using Pay with Points for flights (up to 1 million points back per calendar year)

Hilton Honors Gold status

Marriott Bonvoy Gold Elite status

Rental car elite status with Hertz Gold Plus Rewards, Avis Preferred, and National Car Rental Emerald Club Executive

Travel and purchase protections

Winner: I’m giving this one to the consumer Amex Platinum, especially with the business card’s Dell credit expiring at the end of the year.

To view rates and fees of the The Platinum Card® from American Express, see this page. 

To view rates and fees of the , see this page. 

The Takeaway

Choose the Amex Platinum if:

You value luxury travel perks and lifestyle benefits for personal use

You frequently book flights directly with airlines

You can maximize the card’s various statement credits

Choose the Amex Business Platinum if:

You’re a business owner with high annual expenses

You frequently book business travel through Amex Travel

You can take advantage of the business-oriented statement credits

Both the Amex Platinum and Amex Business Platinum are worth holding for different reasons, but I ended up closing my Business Platinum and keeping the Platinum open because the credits on the Platinum better matched my spending. If Amex re-ups the Dell credit on the Business Platinum, I might reconsider. 

Your choice ultimately depends on whether you’re looking for a personal or business card, your spending patterns, and which set of benefits align better with your needs. Remember, the Amex Business Platinum requires you to have a business to be eligible, while the personal Platinum is open to all qualified applicants.

Learn more: See our comparison of the Amex Platinum vs. the Chase Sapphire Preferred.

Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefits guide for more details. Underwritten by Amex Assurance Company. 

Lux’s Josh Wolfe on launching Lux Labs and making science fiction reality

Science and Health

Josh Wolfe backs startups that make tech straight out of our favorite science fiction movies, from Star Wars surgical robots to metal detectors that evoke Total Recall. But there’s one startup he’s especially proud of because it “seemed the craziest at the time.” The company is inspired by X-Men.

“We had this crazy idea a few years ago, and we talked to a lot of people,” said Wolfe, Lux Capital cofounder and managing partner. “Usually when we have these ideas, some people will say one of two things: ‘That’s absolutely brilliant, I’m in’ or ‘That’s the stupidest idea I’ve ever heard.’ Both are extremely validating for us. We decided to start a company where none existed, to go out and find outlier people with outlier traits in the outlier world.”

That company became Variant Bio, cofounded (with critical involvement from Lux) in 2018 by scientists Kaja Wasik and Stephane Castel. In its way, Variant Bio lives up to the promise of X-Men: The company develops therapies by studying the genes of medically pertinent outliers. To date, Variant has raised about $130 million from big names like SoftBank Vision Fund and General Catalyst—and of course, Lux.

Since its inception in 2000, Lux has helped start from scratch more than 20 companies, and now the firm is formalizing that process. Lux Capital recently launched Lux Labs, a platform and strategy devoted to helping scientific ideas move from labs into real-world settings. Variant Bio is considered a Lux Labs company.

“It’s rooted in philosophy and the penchant we have for this,” said Wolfe. “There’s also this perfect storm of what’s going on in the market now that I think this is an advantaged investment strategy.”

Venture is in a pullback, Wolfe says, making this the ideal time to pursue a differentiated approach. Lux Labs will offer hands-on support, like IP rights, company formation, board member recruitment, and building networks. 

“Sometimes it starts with a thesis,” said Wolfe. “Sometimes it starts with a specific breakthrough. Sometimes it starts with a breakthrough scientist, an individual. We’ll find a team and actually convince them that they should spin out.”

Some companies in Lux’s portfolios that are considered Lux Labs include autonomous vehicle sensor maker Aeva, ocular disease-focused Kala Therapeutics, scent digitizing startup Osmo, and nuclear waste cleanup startup Kurion. Kurion—acquired in 2016 by Veolia for $350 million—played a key role in the aftermath of the 2011 Fukushima disaster in Japan. Today Wolfe describes Kurion as both a “great financial success” and a “great moral success.” But it wasn’t obvious at the time. 

“We looked at nuclear, and we looked at every part of the fuel cycle,” said Wolfe. “We tried to find companies. At the time, virtually no startups existed.”

Wolfe invests in deep tech, but it seems important to him to have a wide cultural view of the world. Throughout our conversation, he references The Curious Incident of the Dog in the Night-Time, science fiction novelist Ted Chiang, and in quick succession quotes Linus Pauling and Charlie Munger. Wolfe tells me over the phone that he has a “wall of nostalgia” in his office, with memorabilia from G.I. Joe, Star Wars, and Thundercats. 

There are a lot of reasons to get into tech, but the science fiction origin story is especially compelling to me. Because the line between fiction and reality has always been thin. Wolfe wants to back companies doing what seems impossible. And if something seems impossible, that means there isn’t a pre-existing road to success. But maybe on this one, it’s worth trusting Doc Brown from Back to the Future.

“Roads? Where we’re going, we don’t need roads.”

See you Monday,

Allie GarfinkleTwitter: @agarfinksEmail: [email protected] a deal for the Term Sheet newsletter here.

Nina Ajemian curated the deals section of today’s newsletter. Subscribe here.VENTURE DEALS- Evommune, a Palo Alto-based chronic inflammatory diseases treatment developer, raised $115 million in Series C funding. RA Capital Management and Sectoral Asset Management led the round and were joined by B Capital, Marshall Wace, Avego Bioscience Capital, existing investors Pivotal bioVenture Partners, EQT Life Sciences, Andera Partners, and others.- LuxWall, a Ypsilanti, Mich.-based glass-based transparent insulation solutions developer, raised $51 million in Series B funding. Climate Investment and Barclays Sustainable Impact Capital led the round and was joined by Carbon Equity, The Nature Conservancy, and existing investors Breakthrough Energy Ventures, Prelude Ventures, 2150, Khosla Ventures, and Baruch Future Ventures.- Flower, a Stockholm-based energy system technology developer, raised €45 million ($48.9 million) in Series A funding. Northzone led the round and was joined by Giant Ventures, 82an Invest, Sony Innovation Fund, and angel investors.- Decart, a San Francisco-based AI efficiency research lab, raised $21 million in seed funding. Sequoia Capital led the round and was joined by existing investor Zeev Ventures.- Buddy.ai, a Mountain View, Calif.-based conversational AI tutor, raised $11 million in seed funding. BITKRAFT Ventures led the round and was joined by Educapital.- Tola, a San Francisco-based accounts payable, accounts receivable, and cash flow management platform, raised $10.2 million in seed funding. Sequoia Capital led the round and was joined by Cherry Ventures, Creandum, RTP Global, and others.- Marqii, a New York City-based hospitality digital operations platform, raised $10 million in funding. Next Coast Ventures led the round and was joined by Rich Products Ventures.- MealMe, a San Francisco-based food ordering API, raised $8 million in Series A funding. Mercury Fund led the round and was joined by existing investors Palm Drive Capital and Gaingels.- Verax AI, a Dallas-based AI production control software developer, raised $7.6 million in seed funding. TQ Ventures led the round and was joined by Concept Ventures, Cardumen Capital, Seedcamp, and others.- Endeavor, a San Francisco-based AI platform for manufacturing firms, raised $7 million in seed funding. Craft Ventures led the round and was joined by Heartland Ventures, Contrary Capital, BoxGroup, and others.- IDA Sports, a Houston-based women’s high-performance footwear brand, raised $2 million in seed funding. Kynisca led the round and was joined by Elysian Park Ventures, Firebird Ventures, and Tipt Ventures.PRIVATE EQUITY- Ardian acquired Ion Beam Services, a Peynier, France-based semiconductor equipment and services provider. Financial terms were not disclosed.- Gridiron Capital acquired a majority stake in Health Monitor Network, a Montvale, N.J.-based health care marketing platform. Financial terms were not disclosed.- Montel, backed by The Riverside Company, agreed to acquire SKM Market Predictor, a Trondheim, Norway-based analysis and advisory services provider for the power and renewables sectors. Financial terms were not disclosed.- Red Iron Group acquired a majority stake in EverLine Coatings and Services, a Houston-based painting, pavement maintenance, and other facility services provider. Financial terms were not disclosed.- Sequoia Financial Group, backed by FGA Partners, Kudu Investment Management, and Valeas Capital Partners, acquired Family Asset Management, a Charleston, S.C.-based investment advisory firm. Financial terms were not disclosed.EXITS- EQT Group acquired PageUp Group, a Melbourne, Australia-based talent management platform, from Battery Ventures. Financial terms were not disclosed.OTHER- Samba TV acquired Semasio, a Chicago-based contextual targeting and audience data solutions provider. Financial terms were not disclosed.PEOPLE- Equal Opportunity Ventures, a Boston-based venture capital firm, added Michelle Rhee as a partner. Previously, she was at BuildWithin.- HCI Equity Partners, a Washington D.C.-based private equity firm, promoted Nate Novak to managing director and Michael Allen to vice president.

Yangon man arrested and charged with spreading ‘fake news’ for criticizing Myanmar film online

Arts & Culture, Film & TV

The regime stated on Wednesday that it had arrested a man in Yangon’s Mayangone Township for allegedly criticizing a new Myanmar language film on social media by claiming it mocks the country’s Indian and Hindu communities. A police station in Hlaing Township charged Shine Htet Aung (aka Her Sal Yon), 32, with violating Section 505(A) of the Penal Code, accusing him of spreading “false news” with the intent to “destroy national stability” on Oct. 26.“His family members asked about his whereabouts at the station but he wasn’t there at that time as he was being interrogated by the military,” a source close to the police station told DVB on the condition of anonymity. The military frequently uses Section 505(A) of the Penal Code to criminalize expressions of dissent against its rule on social media. Shine Htet Aung went missing from a school for the blind, where he was volunteering, shortly after he received a call from an unknown number on Oct. 26. Pro-military Telegram channels had been calling for his arrest over his criticism of the film, claiming he was instigating racial animosity in Myanmar. He had criticized the film Gyitcarsiphoothala (Have you ever Rode a Jeep?) by sharing the movie poster, which depicts Burmese movie stars wearing traditional Indian dresses, and accused the film of mocking Myanmar’s Indian community and culture on Oct. 24. He also made reference to the film’s use of a pejorative term, considered hateful towards South Asians and Muslims in Myanmar. The film premiered on Oct. 29 and was released in theaters nationwide today, which coincides with the Deepavali (Diwali) festival, the most important religious celebration in Hinduism.“Coincidentally, the name of a recently released movie seems like a nationwide public announcement of a derogatory term that neighborhood youth often use to demean and look down upon people of Indian descent. I even suspect this was deliberately timed to cause some incident during the upcoming festival,” Shein Htet Aung, himself a Hindu, shared on social media.His post went viral and sparked online discussions of how Myanmar movies frequently mock the Indian community in the country. Many other netizens criticized the film on social media.The Myanmar Hindu Union issued a statement on Oct. 29 condemning the film, claiming that the movie not only demeans Hindu culture but also demeans Myanmar’s Indian community.  People of South Asian heritage in Myanmar have been subject to discrimination since the country gained independence in 1948, with Myanmar nationalists at times accusing them of being outsiders. Activists launched a campaign to raise awareness about prejudice against the community in 2020.“Racism and xenophobia have deep roots in Myanmar, and it’s disheartening to see films that perpetuate harmful stereotypes rather than fostering unity and respect,” Thinzar Shunlei Yi, a pro-democracy activist involved in the 2020 anti-hate campaign, told DVB. “The junta’s arrest of the whistleblower for critiquing this reflects not only their intolerance toward free speech but also their failure to address the underlying issues of prejudice in our society,” she concluded.

Conversation about loading airtime with grandmother turns into a profitable business idea

Business News

Due to the language barrier, he realised there are many people in the country who struggle to use digital services.

What was a normal conversation between a grandson and his grandmother about reading comprehension has turned into a profitable business idea.

Thapelo Nthite was helping his grandmother load airtime onto her phone because she struggled with reading and understanding English. A question popped into his head, “how many people are going through the same problem, with no one to help?”

His idea to start Botlhale AI was the reason why the panel at Momentum’s 2024 Big Success Pitch chose him as the winner.

Business idea

According to Nthite’s research, only 8% of South Africans speak English at home, and only 30% are comfortable expressing themselves in the language.

Due to the language barrier, he realised there are many people in the country who struggle to make use of digital services.

With Botlhale AI, he aims to increase the application of artificial intelligence systems to eliminate language as a barrier to entry for basic digital services.

ALSO READ: Google adds 15 more African languages on Voice Search

R500 000 cash prize for business idea

He saw a gap that some businesses might be losing on clients because of the language barrier. Therefore, through his product, businesses will be able to engage with customers in a language they understand using AI-powered natural language processing.

The Momentum’s Big Success Pitch saw it befitting to award his idea with the top prize of R500 000 cash prize.

“As part of the prize, he also walks away with the services and expertise of a financial adviser from the financial service provider.”

Second place winner

The prizes of the competition do not only include the money, but they also include mentorship and coaching received from an experienced financial adviser.

Being able to receive advice on how to grow and sustain a business was the reason why Phillip Mngadi entered the competition.

Founder of Zinacare, a business that produces at-home tests, and mobile nurse service was selected as the second-place winner in the competition. And walked away with R300 000.

He said through the mentoring he is going to receive, he will be able to take the business to the next level.

ALSO READ: Google looking to fund 15 black-owned South African tech start-ups

The competition

The second annual Momentum’s Big Success Pitch competition received over 11,000 entries and had to cut it down to the top 5.

“Through this competition, we are empowering entrepreneurs who have the potential for scale and sustainability with not only a cash injection but also meaningful advice through business coaching with a financial adviser,” said Qhawekazi Mdikane, executive head of Momentum Brand Marketing.

The other winner was Zizipho Ntobongwana for her social enterprise Sheba Feminine. It came out third and received R200 000. She was inspired to start her own sanitary pads and tampons after she noticed other brands make use of harmful chemicals.

Rounding out the top 5 of the competition was Nomso Kana, founder of Simsciex Technologies which provides broadband and energy solutions as well as Serisha Barrat who is the founder and chief executive of Lawyered Up. Lawyered Up uses artificial intelligence to make legal help accessible to small businesses.

NOW READ: Business playbook: SME tips to plan, save and grow

Solid State acquires Q-Par Antennas USA

Technology

Value-added components supplier Solid State has acquired Q-Par Antennas USA for a maximum consideration of up to $2.0m.Solid State said on Friday that Q-Par, an antenna systems and related technologies distributor primarily for defence and security applications, will join its systems division.
The AIM-listed group stated the acquisition will be funded from existing cash resources, with an initial cash consideration of $500,00 payable on completion, with an additional $500,000 paid in the first week of January 2025.
A further deferred payment of $500,000 will be paid out in cash over a two-year period, while an earn-out consideration of a further $500,000 may be payable subject to exceeding certain growth and performance targets.
Chief executive Gary Marsh said: “The acquisition of Q-Par Antennas secures a valuable distribution channel and gives the group an opportunity to further invest in the medium-term growth opportunity in the US markets.
“As Solid State broadens its footprint and product offering in the US market, locally recognised and accredited sales channels enable scale, particularly into niche markets.”
As of 0935 GMT, Solid State shares were up 4.35% at 240.0p.

Reporting by Iain Gilbert at Sharecast.com

Trump may kill the CHIPS and Science Act. Here’s what that means for your community.

Science and Health

If Donald Trump wins the 2024 presidential election, semiconductors may be the last thing on your mind. Yet, the existing federal effort aimed at increasing tech manufacturing in the US may no longer just move slower than many hoped — it may stop altogether.Recently, Trump took aim at the CHIPS and Science Act on the Joe Rogan podcast on Oct. 25, suggesting that instead of putting federal money toward a domestic semiconductor industry, the US can charge foreign semiconductor manufacturers high tariffs to encourage them to build factories in the United States.“That chip deal is so bad,” the Republican candidate told Rogan.One problem with this suggestion is that tariffs are paid by the importer and not the exporter. The idea, repeated by Trump, that a tariff is something the US charges foreign countries when goods are imported is disinformation. Tariffs are paid for by the business doing the importing, which often in turn increases the cost of the imported goods to the consumer.Killing the CHIPS Act isn’t as simple as declaring it defunded, with millions of dollars already committed. But it can easily be mismanaged and abused to benefit corporations over workers. It’s a complex and in some ways risky act that requires competency to get right. As it is, there have been holdups due to the long negotiation processes meant to ensure that the federal money is not misused by the corporations that are awarded funds. Still, people connected to the US semiconductor industry have expressed fear that a Trump presidency could mean the end of years of hard work to establish both foreign and domestic semiconductor fabrication plants and the jobs they bring to the United States.Democratic nominee for president and current vice president Kamala Harris, in contrast to Trump, has been promoting the CHIPS Act, one of the major bipartisan pieces of legislation passed by the Biden Administration. On Monday, Harris toured a Corning semiconductor plant in Saginaw, Michigan, that received $325 million in CHIPS funding to expand operations and add 3,000 jobs in the swing state.Why US semiconductor manufacturing mattersThe CHIPS and Science Act, enacted in 2022, focuses on US-based research and manufacturing of semiconductor chips.Semiconductors, such as the electrical circuit “wafers” you see when you open up a computer, are at the heart of much modern technology, including smartphones, TVs, digital cameras, LED bulbs, ATMs, medical equipment, cars — you get the picture. We use them every day without thinking about it.About 90% of the most advanced semiconductors are produced by one Taiwanese company, Taiwan Semiconductor Manufacturing Company (TSMC). Overall, about 75% of all semiconductors are produced in East Asia. Other countries with growing semiconductor production include Germany and the Netherlands. When the CHIPS Act passed, the US produced just 12% of the world’s semiconductors, far less than we use.The United States’s biggest supplier of semiconductors is TSMC. If anything happened on the international stage to cut the US off from Taiwan, the US would be in trouble, because we couldn’t manufacture enough of them domestically to fulfill the country’s needs.To help make the US more self-reliant when it comes to semiconductors, the CHIPS Act committed $280 billion to strengthen the industry, including providing $52 billion in subsidies for US semiconductor manufacturers, including TSMC, South Korean Samsung and US companies like Intel.Still, there are risks associated with entering what can be seen as a “semiconductor war” with China. Part of the act says that the geopolitical risks will be assessed and addressed. This is another complex aspect of the act that can slow things down.The CHIPS and Science Act also includes measures like:Research and development for the next generation of chips is federally funded, as are programs to accelerate bringing new technology to the manufacturing stage. 

State and local incentives to build chip manufacturing plants are being matched federally.

A workforce development aspect that prioritizes helping low-income Americans, with a focus on rural areas and communities of color. The CHIPS Act also funds regional economic developmentOn top of federal efforts, the CHIPS Act also has many impacts on local economies.While large technology corporations like Intel are receiving CHIPS Act funds, money also goes to:University researchers

STEM startups that use/develop semiconductors

Nonprofits involved with semiconductor manufacturing workforce training

Suppliers to chip manufacturers

R&D for fabless chip makersSome of this funding goes through the EDA Tech Hubs program. In 2023, the Economic Development Administration put out a call to economic regions across the US to build a consortium including an institute of higher education, a state or local government entity, private sector firms, economic development groups and workforce representation. In October 2023, the Biden Administration announced the selection of 31 EDA Tech Hubs, which were qualified to make proposals for grants from $500 million in federal funding to help them build assets, resources and equitable tech jobs. In July, 12 of those hubs were selected as the program’s initial grant recipients. Cities like Philly and Baltimore received the designation, but not the associated funding. 

What’s at risk if the CHIPS Act is abandonedIf executed well, the CHIPS Act will mean more US jobs, both in research and design of chips and in manufacturing them, though it isn’t going to happen overnight.Arizona, for example, is on its way to becoming a center of the industry, with a major semiconductor fabrication plant (commonly called a fab) under construction in north Phoenix. The state has drawn TSMC, and with it nearly $100 billion in semiconductor investments. Intel also has its main semiconductor campus in the state. Both TSMC and Intel were awarded CHIPS Act funds.Even with the new semiconductor fabs about a year from opening, working people in Arizona have been impacted by the CHIPS Act. Ironworkers Local 75 in Arizona has grown from 250 members to 1,100 since the act passed. When the fabs open, they will each employ about 6,000 people, many in good-paying blue-collar jobs that don’t require a college degree and are tied to workforce development training programs.And it isn’t just Arizona. Twelve Samsung semiconductor fabs are planned for Austin and Tyler, Texas. Four Micron fabs are planned in Upstate New York, in Ithaca, Malta, Macy and what is being called the “largest semiconductor fab in the US” in Clay. Columbus, Ohio is getting two Intel fabs, with Idaho, Utah, Florida and Oregon each building one fab. The Clay fab alone is expected to create more than 50,000 jobs for the area, which includes other regions like Syracuse, Auburn and Oswego. If things don’t get derailed, that’s a lot of new jobs, and a lot of potential opportunities in EDA Tech Hub regions. 
Companies:
Intel Corporation / Samsung