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On Monday, the Biden Administration confirmed a $53 million award under the CHIPS (Creating Helpful Incentives to Produce Semiconductors) Act to HP Inc. to expand research and manufacturing in Corvallis.
HP Oregon Gets $53 Million In CHIPS Act Funding
Over the last few weeks, the Biden administration has finalized agreements before President-elect Donald Trump takes office. One is the CHIPS Act funding awarded to HP, announced by the Commerce Department last summer.
HP is adapting technology originally developed for inkjet printing to precisely target medicines and enable drug discovery, and it intends to use the award to fund innovation in microfluidics and micromechanics.
The CHIPS award will fund additional research in Corvallis and enable the company to move fruitful projects from the prototype phase into on-site manufacturing faster, and HP anticipates that 150 temporary construction jobs and 100 long-term engineering and factory jobs will be created.
The 2022 CHIPS Act legislation is designed to make the U.S. less reliant on technology from Asia and comprises $52 billion to revitalize the domestic semiconductor industry.
Some hoped the federal money would catalyze growth in Oregon’s chip-making industry, but this has been somewhat hit-and-miss. Intel will Receive $7.9 Billion in federal funding to expand its facilities, yet 1,300 Intel layoffs are planned at its Hillsboro Campus.
The state of Oregon also awarded HP $8.5 million from the $220 million made available through state funding to subsidize semiconductor companies’ Oregon expansion plans. This money will help fund the Corvallis project receiving the federal money.
A further 11 technology companies are still waiting to learn if any CHIPS Act money will be allocated to their Oregon projects.
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