Biden administration announces $162 million to expand computer chip factories in Colorado and Oregon

Posted at 5:43 AM, Jan 04, 2024
and last updated 2024-01-04 07:44:31-05

WASHINGTON (AP) — President Joe Biden's administration is providing $162 million to Arizona high-tech manufacturer Microchip Technology to support the domestic production of computer chips. Thursday's funding announcement is the second tied to a 2022 law designed to revive U.S. semiconductor manufacturing. The incentives include $90 million to improve a plant in Colorado Springs, Colorado, and $72 million to expand a factory in Gresham, Oregon. The investments would enable Microchip Technology Inc. to triple its domestic production and reduce its dependence on foreign factories. The Democratic president signed the bipartisan CHIPS and Science Act in August 2022, providing more than $52 billion to boost the development and manufacturing of semiconductors in the United States.

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