Investing in the Future of Oregon’s Semiconductor Industry
GRESHAM, Ore. — The state of Oregon, known as the “Silicon Forest,” continues to solidify its reputation as a hub for high-tech companies. In a move to bolster the domestic semiconductor manufacturing industry, Microchip Technology, based in Gresham, has been awarded a $72 million federal grant for expansion. This significant investment will not only benefit Microchip but will also contribute to the overall growth of the industry in the United States.
Earlier this year, President Joe Biden signed the CHIPS and Science Act, a bill dedicated to revitalizing domestic semiconductor manufacturing. Motivated by this opportunity, Oregon lawmakers swiftly responded by enacting legislation to position the state as an attractive destination for expansion in the industry. Through state and federal funding, Oregon is ready to support the growth and development of semiconductor companies.
Microchip Technology, a renowned manufacturer, plans to utilize the grant to triple its production output in the Gresham facility. With a global revenue of approximately $8 billion per year and 22,000 employees worldwide, Microchip has been a significant player in the industry for over three decades. The additional funding will help create more employment opportunities, adding 300 new jobs to the existing 900 in Gresham.
Ganesh Moorthy, President and CEO of Microchip, expressed his excitement about the expansion, stating that it would have long-term implications for the manufacturing of semiconductors in the United States. Currently, only 12% of the global supply of semiconductors is produced domestically. However, with these investments, the industry aims to increase its share and reduce dependence on overseas manufacturers.
Aside from the direct impact on Microchip’s operations, this expansion also promises positive changes for the Gresham community. Increased job opportunities and economic growth are expected to be significant outcomes of the investment. Furthermore, strengthening domestic semiconductor manufacturing ultimately enhances national security and technological innovation.
Oregon’s commitment to positioning itself as a leading destination for the semiconductor industry is evident in its proactive approach to legislation and securing funding. As Microchip and other companies expand their operations, the state’s reputation as the “Silicon Forest” will continue to thrive, attracting more investment and opportunities for growth.
The source of the article is from the blog lokale-komercyjne.pl