Microchip Achieves $162 million Funds From U.S. Government

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  • Microchip has received an award comprising $90 million designated for enhancing a chip fabrication plant in Colorado and an additional $72 million for expanding a second facility in Oregon
  • The funds will help Microchip triple the production of its mature-node semiconductor chips and microcontroller units at two factories in the U.S.

Microchip Technology has achieved $162 million from the U.S. Government. This funding aims to boost domestic production of computer chips and microcontroller units or MCUs. These are major components in the consumer and defence industries.

The Commerce Department awarded the funds, which will help Microchip triple the production of its mature-node semiconductor chips and microcontroller units at two factories in the U.S.

Commerce Secretary Gina Raimondo said the award is a “meaningful step in our efforts to bolster the supply chain for legacy semiconductors that are in everything.”

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This initiative has been taken under the Biden administration’s plan to shift production of computer chips away from foreign countries such as Taiwan, which dominate the chipmaking industry.

Microchip has received an award comprising $90 million designated for enhancing a chip fabrication plant in Colorado and an additional $72 million for expanding a second facility in Oregon. According to company officials, this expansion will enable Microchip to meet the demands of its U.S. customers more effectively within the country.

White House National Economic Council Director Lael Brainard said Microchip’s chip technology is critical for the U.S. aerospace, automotive, commercial, defence and industrial industries. According to her, the award will help Microchip reduce its reliance on global supply chains that resulted in long wait times and increased prices for cars and dozens of consumer products during the COVID-19 pandemic.

Microchip Chief Executive Ganesh Moorthy praised the award, saying it is a direct investment that will “strengthen our national and economic security.”

The award follows Microchip’s announcement in early 2023 of its intention to invest $800 million from its own resources to triple the semiconductor production capacity of its Oregon facility.

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