The Biden administration is providing $162 million to Microchip Technology to support the domestic production of computer chips — the second funding announcement tied to a 2022 law designed to revive US semiconductor manufacturing, Josh Boak reported for the Associated Press (AP).
The incentives announced Thursday include $90 million to improve a plant in Colorado Springs, Colorado, and $72 million to expand a factory in Gresham. I Photo: President Joe Biden Facebook
The incentives announced Thursday include $90 million to improve a plant in Colorado Springs, Colorado, and $72 million to expand a factory in Gresham, Oregon, the Commerce Department said.
The investments would enable Microchip Technology Inc., which is based in Chandler, Arizona, to triple its domestic production and reduce its dependence on foreign factories.
Much of the money would fund the making of microcontrollers, which are used by the military as well as in autos, household appliances, and medical devices.
Government officials said they expected the investments to create 700 construction and manufacturing jobs over the next decade. Lael Brainard, director of the White House National Economic Council, emphasized that the funding would help to tame inflation.