Presumably the government values US-based factories for reasons beyond just domestic employment (even if that's the biggest factor). Being able to produce chips in the US is good for national security.
Still, there is a clear economic benefit from such a move closer to home, even in times of peace and predictability. The US economy is all about outsourcing the basement and keeping the penthouse. But the hosts of our outsourced industry can "tech up," so to speak. If we let Asia-Pacific totally dominate the semiconductor fabrication industry, it's only a matter of time before they dominate the semiconductor design industry as well.
That would mean that schools in richer areas with higher property values got more funding?