The Department of Commerce unveiled $53 million in direct funding under the CHIPS and Science Act to HP on Monday. The investment aims to expand and modernize one of HP’s facilities in Corvallis, Ore.
President Biden signed the CHIPS and Science Act in 2022, investing up to $52 billion into semiconductor development.
This finalized award comes after the previously signed preliminary agreement, which the agency announced in August.
The facility in Corvallis contains one of three research and development centers throughout HP’s organization. These centers develop new technologies, like semiconductors, which are used in HP products.
The funding is also expected to help with the manufacturing of silicon devices for life sciences research including drug discovery, single-cell research, and cell line development.
“By investing in companies and R&D projects across the semiconductor ecosystem, the Biden-Harris administration is helping to build and secure the domestic semiconductor capabilities that will help the United States out-compete and out-build the rest of the world,” Commerce Secretary Gina Raimondo said in a statement.
The investment is expected to create and maintain around 150 construction jobs and over 100 manufacturing jobs.
“HP is pleased its CHIPS grant has been finalized, which will bolster semiconductor production and innovation in the United States,” HP President and CEO Enrique Lores said.
