The state of Oregon has recently finalized contracts to provide $136 million in state funding to semiconductor manufacturers seeking to expand their operations in the state. Intel, Microchip Technology, and HP Inc. have been announced as the initial recipients of this funding, with a dozen other companies still in negotiations for their share of the $240 million that was approved by lawmakers last year.
Intel, the largest corporate employer in Oregon, will receive the largest share of $115 million. The company plans to undertake a multibillion-dollar expansion of its research campus in Hillsboro and expects to add over 2,000 new jobs to its current workforce of 22,000 in the state. Intel believes that these incentives will encourage other companies and suppliers to grow and expand their capabilities in Oregon, further strengthening the Silicon Forest’s position in the global semiconductor industry.
Microchip Technology will receive $11 million from Oregon for its ongoing $800 million expansion of its Gresham chip factory. The company anticipates that this expansion will create 300 new jobs in Gresham. Additionally, Microchip plans to collaborate with educational institutions to develop an apprenticeship program for students interested in advanced manufacturing careers.
Furthermore, HP Inc. has been awarded $9.5 million to support its research and manufacturing site in Corvallis. HP intends to use the state funding to advance its fifth-generation silicon-based microfluidics work. While precise hiring numbers have not been disclosed, HP recognizes the opportunity presented by the Oregon CHIPS Act to modernize and expand its Corvallis facility and G5 technology.
These state funding awards are subject to conditions that include starting work on new projects by 2027 and meeting project objectives outlined in their funding applications. Companies that fail to meet these terms will be required to repay the funds immediately.
The investments made by the state of Oregon aim to create new jobs, boost workforce development, and attract additional resources from the federal government through the CHIPS Act. By supporting semiconductor manufacturers in their expansions, Oregon is positioning itself as a key player in the semiconductor industry, with the potential to strengthen its economic growth and technological advancements.
The source of the article is from the blog kewauneecomet.com