DENVER — The Colorado Office of Economic Development & International Trade has named a semiconductor industry manager who will spearhead implementation of the federal CHIPS Act in the state.
The Global Business Development Division of OEDIT named Dan Salvetti as semiconductor industry manager. The new position is intended to support the growth of Colorado’s semiconductor industry and help implement new OEDIT programming to aid Colorado companies in benefitting from the federal CHIPS and Science Act.
“Today’s announcement marks an important step for Colorado’s Advanced Industries sector and Semiconductor ecosystem,” Michelle Hadwiger, director of global business development for OEDIT, said in a written statement. “Dan’s role will be instrumental in bringing federal funds into the state from the once-in-a-generation opportunity that is the CHIPS and Science Act. This work will be crucial in advancing the state’s position as a global technology leader and will catalyze growth across all segments of Colorado’s strong and diverse semiconductor value chain. We are excited to have Dan as our Semiconductor Industry Manager and know that his efforts will spur investment, create jobs, and bring economic prosperity to our state.”
Salvetti joined OEDIT in February 2018 as a member of the Strategy and Analytics team, where he provided analytical support.
As semiconductor industry manager, he will advise business and state leaders on the development of the semiconductor industry and federal funding opportunities through the CHIPS and Science Act, the Inflation Reduction Act and the Infrastructure Investment and Jobs Act. His work will include implementation of House bill 23-1260, the Advanced Industry and Semiconductor Manufacturing Incentives legislation.
The bill expands Colorado incentive tools to allow for $15 million in refundable tax credits each year for the next five years to companies in the semiconductor value chain and advanced manufacturing, with priority for those seeking to leverage federal funding available through the CHIPS and Science Act, American Rescue Plan, and other federal programs.
“The CHIPS Act is groundbreaking legislation as it now provides the U.S. the ability to compete on a global scale in the manufacturing of semiconductors,” Salvetti said. “I am honored for the opportunity to support an industry that is truly fundamental to modern life and will enable the future of our society. Colorado is an integral piece of the global semiconductor ecosystem and will see tremendous growth in the coming years, bringing high paying jobs to our residents.”