Skip to main content

NMMA Celebrates CHIPS Act

1_CHIPS.ACT

President Joe Biden this week signed into law the CHIPS and Science Act of 2022 at a ceremony on the White House South Lawn.

The legislation aims to bring large-scale semiconductor production to the U.S. to help reduce dependence on foreign-made microprocessors. It also allows businesses to fully deduct research and development expenses in the same year they are incurred.

According to an NMMA statement, “NMMA President Frank Hugelmeyer and Correct Craft CEO Bill Yeargin were invited and partook in the White House signing ceremony, following the recreational boating industry’s role in advocating for this crucial piece of legislation that will invest in domestic semiconductor manufacturing.”

“The CHIPS and Science Act is a reminder of what Washington can achieve when policymakers from both parties come together to tackle our country’s greatest challenges,” NMMA Frank Hugelmeyer said in the statement. “Thanks to President Biden, Secretary of Commerce Gina Raimondo, and more than 300 members of Congress, this legislation will bring home large-scale semiconductor manufacturing, leaving our country and economy less susceptible to volatile global supply chains.”

Additional information about the CHIPS and Science Act of 2022 can be found here

Related

1_ABA

ABA Celebrates 30 Years

The America Boatbuilders Association was founded in 1992 with the objective of collectively buying engines, raw materials and manufactured products at better prices.

1_YEARGIN

Who, Not How

Sometimes, to solve a tough problem, you need to get a different person in the room.

1_WHALESACTION

NMMA: Proposed Speed Rule an ‘Existential Threat’ to Industry

The association is calling on every marine brand, employee and boat owner to file public comment by Oct. 31 over a sweeping regulation to protect North Atlantic right whales.

1_AXOPAR

Axopar and Nimbus Renew Agreement

The boatbuilders have entered an agreement whereby Nimbus Group will retain exclusive rights to sell Axopar boats on the Swedish market.

1_IAN

Hurricane Ian Leaves Devastation in Florida

The storm left a wide swath of destruction, heavily impacting marine interests from Tampa Bay to Marco Island.

Norm

Email Is Your Ticket to Holiday Sales

Developing an effective email campaign can bolster sales and help fill winter coffers at your dealership.

1_NMRA

NMRA Presents Annual Awards

Edson CEO Will Keene and ComMar Sales president Tim Conroy were recognized for their contributions to the marine industry.

1_ PULSE.PING.2

DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.

1_EPROPULSION

EPropulsion, Mack Boring Partner with Crest

Pontoon builder Crest will use an ePropulsion Navy 3.0 Evo electric outboard motor and an E175 battery for its 2023 Current model.