Trump Establishes New Office to Oversee CHIPS Act and Accelerate Investments

The new Investment Accelerator will help ‘cut through red tape’ and allow businesses to quickly use capital and create jobs, according to the White House.

President Donald Trump signs an executive order in the Oval Office of the White House on March 31, 2025. Andrew Harnik/Getty Images

President Donald Trump signed an executive order Monday creating the United States Investment Accelerator, a new office within the Commerce Department aimed at streamlining the implementation of the CHIPS Act and expediting major corporate investments in the United States.

The office will oversee $52.7 billion in subsidies made available by the 2022 CHIPS and Science Act for semiconductor manufacturing and production.