U.S., Canada Mull Chip Corridor, With IBM Leading

The United States and Canada said they would work together to create a bilateral semiconductor manufacturing corridor, as International Business Machines (IBM) signaled its intent to expand in Canada, Stephen Nellis reported for Reuters.

Photo Insert: Ottawa will spend C$250 million ($181.94 million) on its domestic semiconductor industry to boost research and development and manufacturing, the prime minister's office said in a statement.

The news came as US President Joe Biden, who is visiting Canada, issued a joint pledge with Canadian Prime Minister Justin Trudeau to stand together against authoritarian regimes in part by reducing their dependence on other countries for critical minerals and semiconductors.

Ottawa will spend C$250 million ($181.94 million) on its domestic semiconductor industry to boost research and development and manufacturing, the prime minister's office said in a statement.

In a joint statement, the two leaders said IBM would provide "a significant investment to develop new and expanded packaging and testing capabilities at its Bromont facility (in Quebec) as part of a Memorandum of Understanding (MOU)."

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