In the decade following US President John F Kennedy’s 1961 announcement of America’s mission to put a man on the moon, the number of physical science PhDs tripled, and that of engineering PhDs quadrupled.Now, the country is embarking on a moonshot to rebuild the semiconductor fabrication industry. Corporations that want a cut of the $39bn in manufacturing incentives within the Chips and Science Act programme can start filing their applications for subsidies on Tuesday. In order to get them, they’ll have to show that they are contributing to something that may be even more difficult than putting a man in space: building a 21st-century workforce.

America has plenty of four-year graduates with crushing debt (the national average for federal loan debts is more than $37,000 a student) and underwhelming job prospects. It also has plenty of college dropouts and young people with high-school degrees who are trying to make ends meet through minimum-wage jobs supplemented by gig work.

What it lacks are the machinists, carpenters, contractors and technicians who will build the new fabrication facilities. It also needs to triple the number of college graduates in semiconductor-related fields, such as engineering, over the next decade, according to commerce secretary Gina Raimondo.