Spurred by strained supply chains, growing concerns about China, and the landmark CHIPS and Science Act Congress enacted last summer, U.S. semiconductor manufacturing seems poised for a renaissance. News of chip manufacturing facilities slated for Ohio, upstate New York and most recently Arizona should buoy all Americans for their promise of good new jobs and because these factories will make us less dependent on others for the chips that are the building blocks of most modern products, from phones to automobiles. Important as they are, however, these new factories will mainly serve to increase access to current chips, including those...