The White House this week announced $1.5 billion in funding to boost U.S. domestic supply and manufacturing of semiconductors under the $52 billion CHIPS and Science Act.

The money is earmarked for a 10-year, $12 billion investment from both public and private sources into GlobalFoundries, one of the largest computer chip producers on the planet, located in in Malta, Saratoga County, federal officials said.

The project is expected to create thousands of construction jobs over the next decade, in addition to permanent manufacturing jobs, most of which will be located in New York, a senior administration official said.

Ryan Harper, director of CHIPS at the White House, joined Spectrum News 1 on Tuesday to discuss how some of the money will go toward modernizing sites in New York, and what drew federal officials to GlobalFoundries.

Harper also touched on the status of supply chains, why it's important to invest in a product made in the U.S. and what the funding will mean for domestic production.