Closing the U.S. semiconductor workforce gap through high-impact workforce investments
On July 1, 2024, Natcast launched the NSTC Workforce Partner Alliance (WFPA) program. The program creates a nationwide fund to support projects that will address a critical workforce need in the U.S. semiconductor industry to help to close key skills and labor market gaps and fuel industry and national economic growth.
The Challenge
The semiconductor industry is facing significant workforce challenges as demand for semiconductor talent is expected to rapidly outpace the supply of skilled workers.
Forecasting based on factors like current industry exit rates, education and training completion rates, and global talent migration patterns suggests that the U.S. semiconductor industry will be unable to fill more than 67,000 of the 238,000 jobs the industry is projected to create by 2030.
(Source: Semiconductor Industry Association, “Chipping Away: Assessing and Addressing the Labor Market Gap Facing the U.S. Semiconductor Industry”, July 2023).
The Opportunity
Supporting the current semiconductor workforce and building the workforce of tomorrow are critical to the economic health and competitiveness of the United States. Jobs in the industry include researchers, engineers, and technicians and can offer gainful employment across the nation to workers from all demographic and socioeconomic backgrounds.
Making investments in the U.S. semiconductor workforce is an opportunity to connect individuals to quality jobs across the country and develop a robust workforce ecosystem that supports an industry essential to the national and economic security of the U.S.
Active WFPA Awards
Natcast currently has 6 active awards under the WFPA program representing an investment of nearly $10 million. The awards support established workforce efforts with track records of success scaling or replicating effective programs or support new programs that meet previously unaddressed needs or take advantage of new opportunities. These programs are projected to support more than 9,000 individuals entering or advancing careers in the semiconductor industry and will address critical talent gaps across semiconductor design, manufacturing, and production in the United States.