The U.S. tourism industry expected 2025 to be another good year for foreign visitors. But several months in, international arrivals
Major manufacturers like Taiwan Semiconductor Manufacturing Corp. are investing to build up U.S. facilities, partly due to incentives put in place during former President Joe Biden’s time in office. The CHIPS Act,, was designed to revive U.S. semiconductor manufacturing while sharpening the U.S. edge in military technology and minimizing future supply chain disruptions.
Because of the CHIPS Act, the U.S. is projected to more than triple its semiconductor manufacturing capacity — the highest rate of growth in the world during that period, according to a May 2024 report from the Semiconductor Industry Association and the Boston Consulting Group.Barry Broome, president of the Greater Sacramento Economic Council, said weaknesses in the semiconductor supply chain became evident during the pandemic, when the U.S. experienced. It was “abundantly clear that having these chip products offshore in Vietnam, Taiwan, China for cost savings had serious implications.”
Those pandemic-era challenges, paired with looming tensions between China and Taiwan, have helped drive the industry to the Sacramento area, he said. Northern California’s wealth of tech knowledge and established roots in the semiconductor industry are also attractive traits that have brought investment to the Sacramento region as federal subsidies begin to bolster domestic growth.German tech company Bosch, for example, announced a $1.9 billion investment in the Greater Sacramento area in 2023 to manufacture chips for electric vehicles, converting its facility in Roseville into a silicon carbide semiconductor production site.
That investment, Bosch said, would create as many as 1,700 jobs in construction, manufacturing, engineering, and research and development. The project marks the largest semiconductor investment in California in three decades, according to Broome.
Tech workers who started out at companies like Intel have spun out companies of their own, including Sacramento-area AI startup Blaize and data storage manufacturer Solidigm.Assumption University student Matthew Lane, 19, is accused of using stolen login credentials to access the computer network of a software and cloud storage company serving school systems in the U.S. and abroad, according to U.S. Attorney for the District of Massachusetts Leah B. Foley.
PowerSchool was not named in the court filings, but a source familiar with the case confirmed the company’s involvement.According to court records, Lane is then alleged to have threatened the release of 60 million students’ and 10 million teachers’ names, phone numbers, Social Security numbers, residential addresses and medical histories if the company did not pay a ransom of approximately $2.85 million in Bitcoin.
Foley said Lane’s actions “instilled fear in parents that their kids’ information had been leaked into the hands of criminals – all to put a notch in his hacking belt.”An attorney representing Lane didn’t return a phone call from The Associated Press requesting comment on Wednesday. Lane, of Sterling, Mass., faces counts of cyber extortion conspiracy, cyber extortion and unauthorized access to protected computers and aggravated identity theft. A plea hearing has not yet been scheduled.