United States President Donald Trump signed an executive order on Monday establishing an office within the Department of Commerce called the US Investment Accelerator, which aims to "facilitate and accelerate" corporate investments above $1 billion in the US.

This newly established office will encourage companies to make large investments by "reducing regulatory burdens, speeding up permitting, coordinating responses to investor issues across multiple Federal agencies, increasing access to national resources, facilitating collaboration with national laboratories and working with all 50 state governments and their economic development organizations."

The Investment Accelerator will also "be responsible for administering the CHIPS Program Office, where it will deliver the benefit of the bargain for taxpayers, negotiating much better CHIPS Act deals than the previous Administration," the White House said.