♪♪ the president: hello, hello,

right about unions. your dad is right. unions built the middle class, wall street didn't, unions did. so thanks for that introduction and union sheet metal worker, proud member of the navajo nation, u' in arizona and arizona is building the future. thank you, governor hobbs, she had to leave b the state and procedure dedication for people of the fourth district. we couldn't be here today because the vote in washington, i want to thank senator mark kelly doing an incredible job and announcement we make here today. and mayor kate. kate? thank you. you're an incredible mayor and doing a great job and

mr. harkey. i'll behave. i'll behave. we're also brightest women -- man or woman i've known, jean armando, our secretary of mmce. i'm not joking about that. in fact, the c.e.o. of intel, aaron butler, president of arizona building trades. what a combo, man. and other union leaders are here today. thank for you your partnership and showing how we can get big things done in america and we can do it again and again. i've asked pat and many other business leaders thiqu sincerele business roundtable. please have a seat. i'm sorry. i didn't realize you're still ding. i apologize. i asked the question at the business roundtable of the biggest leaders of business in the world and the united states particularly. when the united

states decides to invest considerable resources in a new industry that we need to build, does that encourag or discourage it? and the answer is overwhelmingly encourage it. folks during the pandemic we had to learn about semi conductors, those tiny computer chips you all out here know very well, smaller than the tip of your finger that p everything from the cell phone and cars and dishwashers, satellites and weapon systems. america invented these chips. and over time, some thought it was cheaper to send the manufacturing overseas because labor was cheaper. as a result, when the pandemic shut down chips factories overseas, the price of everything went up. first time america began to realize. unlike my predecessor, i was determined to turn things around to invest in american, all er been doing.

in january of 2022 i came to the white house where we announced the historic announcement to build factories in ohio and we were joined then by sheriff senator who talked about why it's time to bury the phrase rust belt and said we should ll silicon heartland and it is becoming that. by march of this year pat was my guest at the state of the union where we talked about a thousana semi conductor■ factories were being built, i called it the field of dreams. in august, kelly and sherrod chips and sciences act to my desk and was one of the most significant science act in history. break ground for the new factory in ohio.

within nine months, we're just getting started since it was partnership in companies investing billions across the country bringing the semi conductor manufacturing back to america and the jobs of the futuacerica, including here in arizona with significant help of mark kelly. i tell you what, i'm so glad this is happening. those phone calls every 20 minutes. he is committed. in december of 2022, i came to phoenix where i joined so many of youñ- well as c.e.o. of apple, tim cook, to talk about the historic investments of the chips and sciences act to make chips here in ph■nix. tonight pat is building the field of dreams. and i announce a partnership in one of the largest investments of semi conductors in the united

states ever. the new lark administration intl and up to $8.5 billion. it's a smart investment. and that's being paramedic with over $100 million including $30 billion in arizona and $30 billion in ohio.■ rights one of the largest private investor organization. and we'll expand them in ohio, mexico and oregon and combined will create more than 20,000 jobs. and i want to make that clear. everybody has a right to

organize and have their labor protected. look, it's also to support 3,000 right here in phoenix with salaries averaging over $100,000 a year and don't alwayre and theacilities won't just manufacture regular semi conductors but will make the most significantly advanced chips. blowings my mind. has trillions of tiny features,edth -- width of a strand of human d.n.a., 40 times thinner than a human hair and requires precision down to the size of a single atom and the process is enormous and requires enormous amounts of information produced and are critical to

emerging technologies that willpower the future of the economy like qu and communicatis and make everything faster, lighter, smaller and more reliable. folks, it's about time. even though we invented the most advanced chips, we make 0% of them today. 0% of the mostan all manufacturing of leading edge chips across the entire industry moved overseas to asia years ago. that's why today's investment is touch a big deal. we'll enable advanced conductor production a comeback in ame it's going to transform the semi conductor industry and create entirely new ecosystems and entily and manufacturing of advanced chips in america. parenthetically i said we'll become■) of the world. this man thought i was nuts.

who says we won't be? we've created25 and we're just getting started. not a damn thing america can't do if we set our mind to it and will put us onure 20% of the wos leading chips by the end of the decade. right here in the united states, intel committed to net zero gas% renewable electricity to power these fabs. and there's more. this isn't just about investing in america but investing in the american people as well. that's why we're dedicating $50 million of chips funding t withy stakeholders like community colleges, state and local governments, labor unionsndon oe semi conductor industry and that way people don't have to leave their hometown to get good paying jobs and support their.

here in arizona, arizona state university is engineering program. get this. every time i say it and talk about it, it's astounding to me. going to expand the energies over 10,000 additional students. 10,000 additional students. community colleges are training new technicians and launching presemi conductor programs led by intel employees. localon building training centers for apresentship and intel is investing in semi conductor education starting as early as highs get hands on experience and the path to good paying jobs whether or not they get to go to college. the same thing is happening in other states as well. it's all ptnvesting in america agenda which has attracted 675 billion dollars,ál billion in private sector investment and ignited the

manufacturing boom in america, a clean energy boom, a jobs boom,. since i took office, america has had the strongest growth of any world. 15 million new jobs, the longest in 50 years.nemployment under 4q growth is strong, wages are up more than prices. inflation is down dramatically. we have more to do, i get questf delivering for the american people is working now. since i came to office, here in arizona, because of your investment in america agenda, we deployed and developed nearly $8 billioni:f federal funds for infrastructure and clean energy. here in arizona we created 300,000 new jobs. let me say that again, in arizona, 300,000 new jobs.

because i was finally able to beat big■ i've been trying for years. medicare has the power to negotiate lower cost prescriptions for seniors includg 1.4 million in arizona. to put it in perspective, whatever prescription you have made by any amen drug manufacturer, jump on air force i and fly to any country or major city in the world from toronto to berlin to baghdad and anywhere around world, you get off the plane and bring that prescription into the country you can buy 40% toguess what? when we begin to manufacture and negotiate, i said look, medicare buys drugs, billions of dollars worth to take care of medicare and medicaid. well, guess what? you know how much it costs toy , anybody need insulin? raise your hand.

you're darn right. well, guess what, it's now $35 a month. it wasuk $400 a month. you know how much it cost to make it? $10. cap the total out-of-pocket expenses for all the drugs a senior has to pay at ensi cancer drugs that cost $15,000 a year, never have to pay more than $2,000 for all the drugs they need. folks, by the way, ny save seniors' money but saves we've reduced the consequence of the law i wrote and got passed. we reached the federal deficit by $160 billion. $160 billion. you know why? medicare doesn't have to pay $400, they have to pay $35and m. exorbitant prices.

it's all part of my economic vision for this country. i determined build the economy from the middle out and bottom up, not the top down because when you do that, the poor have a ladder upd the wealthy dryel we all do well. let's be clear. it's a fundamental break of supercharged by my predecessor. on his watch companies sent american jobs overseas for cheaper labo imported product. we're creating jobs in america and exporting american products. my predecessor and allies in back. the just majority of the team on the other side, my republican friends didn't vote for the chips and sciences act, a majorityow they're trying to rel the inflation reduction act, the most significant act on climate that will create hundreds of thousands ofob own state and in your district, particularly in states like arizona.

that's when my predecessor was in office, he enacted a $2 trillion tax cut for the overwhelmingly benefit the wealthy and biggest corporations. i'm not anti-corporation. i come from theca. more corporations are incorporated in delaware than any other state in the union combined and i represented it for 36 years. can't get greedy. and we want to -- we want to do this again. bottom line, i want to build a future my predecessor can let it be built in china and other countries and not america because it may be cheaper to investwx in. folks, i promise to be the president of all americans whether you voted for me or didn't vote for me. today's investment helps all americans in red states and blu, urban, suburban and other communities. ■ we're not leaving anybody behind. if it's invented in america, it should be made in america.

and include all of america. folks, let me close with this. i've been determined to make things in this country again, to build created over 800,000 manufacturing jobs and we're still counting, to make sure we're never again in position where during thec we're relying on other countries to make things we badly need at home to be able to come forward. folks, some folks didn't believe we could do this. but i've made no bones about it. i said for a long time and i mean it from the bottom of my heart, if we invest in america, cha lead the world again. we are leading the world again. we're proving it's never been a good bet to bet against america. i spent more time with the leader of china than any other world leader has and i w with him, 17,000 miles when i was vice president and he was vice president before he became a

leader and we're in the tibetan plateau can you define america for me? i said i sure can in one word. and he looked at me. i said "possibility." possibility." the only world -- we've come out of every crisis we've been in stronger than when we went into that crisis. there's nothing beyond our capacity. i've never been more optimistic about our future. we have to remember who in the hell we are. we're the united states of america and there's nothing beyond our capacity when we work together. god bless you all and may god protect our troops. europe the best. you're the best. isg to transform the country in a way you don't even understand yet. thank you, thank you, thank you. ♪ [captions copyright national cable satellite corp. 2023] ♪■2■"ó■