The Biden administration made one of its first awards under the CHIPs act for semi-conductor production facilities with a $123 million subsidy to Minnesota-based Polar Semiconductor, according to the Department of Commerce.
“Today represents an important milestone in the implementation of the historic CHIPS and Science Act as we announce the first award agreement with Polar,” said U.S. Secretary of Commerce Gina Raimondo. “The Biden-Harris Administration’s investment in Polar will create a new U.S.-owned foundry for sensor and power semiconductors and modernize and expand Polar’s facilities in Minnesota, strengthening our national and economic security, bolstering our supply chains, and creating quality jobs.”
The subsidy will enable Polar to double its US production capacity of sensor and power schips in two years.
It is the first award under CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities. The CHIPS act is intended to help the US create an independent semi-conductor industry.
By Staff
