The U.S. Department of Commerce has invested up to $35 million for the expansion and modernization of two companies, aimed at enhancing the nation’s semiconductor industry.
The DOC said Friday it signed two separate preliminary memoranda of terms awarding Corning up to $32 million and Powerex up to $3 million in proposed direct funding to develop their respective facilities in Canton, New York and Youngwood, Pennsylvania. The proposed CHIPS and Science Act investment is expected to boost the production of key semiconductor components and create hundreds of jobs.
Goals of Commerce’s Investments
The expansion of Corning’s manufacturing facility will create 130 manufacturing jobs and over 175 construction jobs while Powerex’s back-end production facility will create more than 55 manufacturing jobs and 20 construction jobs.
Through the investment, Corning can boost production of its High Purity Fused Silica and EXTREME Ultra Low Expansion Glass, used in manufacturing deep ultraviolet and extreme ultraviolet lithography machines and photomasks. The company will also develop a novel technology manufacturing process to strengthen the domestic supply chain for these critical components.
Powerex, meanwhile, manufactures semiconductor power modules used in F-35 fighter jets and other defense applications.
Secretary of Commerce Gina Raimondo, remarked, “These proposed actions are creating quality jobs across the country while advancing U.S. technological leadership.”
Wendell Weeks, CEO and chairman of Corning, said, “This proposed investment and the continued commitment in Canton will enable us to establish the next-generation manufacturing capabilities needed to produce vital materials for lithography tools that will develop the world’s most complex microchips, strengthening our commitment to advancing semiconductor technology and job creation in the United States.”
Powerex CEO Joseph Wolf, added, “This proposed investment allows us to meet rising demand with U.S.-made products while building a stronger future for our team and community.”