Costa Rica is positioning itself as a hub for the semiconductor industry, attracting investment and training young people in technology to reduce the US's dependency on Asian countries for chip production. The chip and tech production boom in Costa Rica has inspired The New York Times writer Farah Stockman to refer to tech hubs in the nation as "the Silicon Valley of Latin America."
With the reopening of Intel's manufacturing plant in 2021 and the development of semiconductors on Costa Rican soil, the country is on track to become a continental hub for integrated circuits.
The Bottom Line Upfront
Costa Rica's emergence as a hotbed for US chips is significant as it addresses the US government's concerns about national security and dependency on Asian countries for chip production. It also presents an opportunity for Costa Rica to diversify its economy and create high-tech job opportunities for its young population.
The Breakdown
The Costa Rican government is implementing measures to stimulate the numbers of professionals and technicians in the semiconductor industry, including strengthening intellectual property standards and relaxing immigration rules to attract specialized personnel.
Universities are adjusting their curriculums to focus on technology and organizing job fairs to meet the demand for skilled professionals in the industry.
Intel's $1.2 billion investment in its Costa Rican plant and the collaboration between multinational companies and academic institutions further support the development of the semiconductor ecosystem.
