Oregon’s high-tech industry is poised for further growth with a new infusion of millions of dollars from the federal government.
The Biden administration announced Monday that it will give HP up to $53 million to help expand and modernize the company’s facility in Corvallis. The funding comes from the CHIPS and Science Act approved by Congress in 2022, which will spend more than $50 billion to expand the semiconductor sector. The Commerce Department originally announced its intention to award funding to HP after conducting due diligence on the company.
Commerce Secretary Gina Raimondo said in a statement Monday that “companies like HP are developing technologies that will fuel unprecedented breakthroughs for generations to come.”
Executives at HP, formerly known as Hewlett-Packard, said they would use the funding to expand research into microtechnology that could be applied to the next generation of small devices. The project is also expected to create 100 new jobs in factories and 150 in construction, officials said.
“HP is pleased with the award of the CHIPS grant to accelerate semiconductor production and innovation in the United States,” HP President and CEO Enrique Lores said in the release. Ta.
The award is Oregon’s third, following $1.9 billion awarded to Intel and $72 million awarded to Gresham’s Microchip Technologies. HP also benefits from a $9.5 million award from the University of Oregon. $210 million Assigned to the semiconductor sector.
Oregon leaders expect the Biden administration to build the last of Oregon’s three semiconductor research centers, with Gov. Tina Kotek planning to build an urban growth center in Hillsboro in preparation for building the center. It had announced plans to attract more than 370 acres of farmland within its boundaries. The high-tech industry is Oregon’s largest, employing more than 30,000 people.
But Kotek dropped the idea late last year, and in early January the Biden administration awarded the final site to Arizona State University in Tempe. Other centers were established in Albany, New York, and Sunnyvale, California’s Silicon Valley.
The award was celebrated by Oregon’s Sens. Ron Wyden and Jeff Merkley, and Congressman Val Hoyle, who represents Corvallis and the rest of the 4th Congressional District.
“Our 21st century economy is powered by small chips with huge opportunities, and this major federal investment in HP’s cutting-edge research will help ensure that that potential is homegrown and harnessed in Oregon.” “We guarantee that this will happen,” Merkley said in a statement.
A total of 11 other technology companies still hope to receive funding for Oregon projects through the CHIPS Act. The Oregonian/Oregon Live Reported.
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