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The
proposed funding will support technologies that serve life
sciences instrumentation and technology hardware used in
artificial intelligence applications and other projects, the
department said.
Congress in August 2022 approved a $39 billion subsidy program
for U.S. semiconductor manufacturing and related components
along with $75 billion in government lending authority and a 25%
investment tax credit worth an estimated $24 billion.
The projects build on HP’s expertise in microfluidics and
microelectromechanical systems with funding set to support
manufacturing of silicon devices critical in life sciences lab
equipment used in drug discovery, singlecell research, and cell
line development.
Commerce Secretary Gina Raimondo said the proposed $50 million
funding for the Corvallis, Oregon, HP campus "shows how we are
investing in every part of the semiconductor supply chain and
how important semiconductor technology is to innovation in drug
discovery and critical life science equipment."
The department said the technology will boost partner
institutions including Harvard Medical School, the U.S. Centers
for Disease Control and Prevention, and Merck.
HP CEO Enrique Lores said the funding "provides HP with an
opportunity to modernize and expand our facility to further
invest in our microfluidics technology."
The department has announced term sheets with 17 companies
offering more than $32 billion in grants and up to $29 billion
in loans.
It also made other major planned awards including $6.4 billion
to South Korea's Samsung to expand chip production in Texas.
Intel won $8.5 billion in grants in March while Taiwan's TSMC
clinched $6.6 billion to build out its American production and
memory chip maker Micron Technology won $6.1 billion to help
fund domestic chip factory projects.
All the awards have yet to be finalized and amounts could change
after the Commerce Department conducts due diligence.
(Reporting by David Shepardson; editing by Miral Fahmy)
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