Arizona-based Microchip is set to benefit from the funds. With the capital, the company will be able to increase US production of its microcontroller units (MCUs) and other specialty semiconductors built on mature nodes.
Microchip’s microcontroller units and mature-node semiconductors are critical components in the production and manufacturing of electric vehicles and other automotives, washing machines, cell phones, aeroplanes, and the defence-industrial base.
The approximately $162m in proposed CHIPS funding would be split across two projects: approximately $90m to modernise and expand a fabrication facility in Colorado Springs, Colorado, and approximately $72m to expand a fabrication facility in Gresham, Oregon.
President Biden signed the CHIPS and Science Act, part of his Investing in America agenda, into law in August 2022, with the goal of strengthening US supply chains, creating good-paying jobs, protecting national security, and advancing US competitiveness.
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