US government to give $75 million to South Korean company for Georgia computer chip part factory

📆 5/23/2024 5:27 PM

United States Government News

South Korea Government,General News,GA State Wire

.The federal government will spend $75 million to help build a factory making glass parts for computer chips. The U.S. Department of Commerce announced the investment Thursday in Absolics. That's a subsidiary of South Korea’s SK Group. The plant in Covington, Georgia, was announced in 2021.

COVINGTON, Ga. — The federal government will spend $75 million to help build a factory making glass parts for computer chips.

The plant in Covington, Georgia, was announced in 2021. At the time, it was supposed to cost $473 million and hire 400 workers. The Department of Commerce said this is the first time the CHIPS and Science Act has been used to fund a factory making a new advanced material for semiconductors. The 2022 federal law authorized the spending of $280 billion to aid the research and manufacturing of semiconductors in the United States.

📆 5/23/2024 5:27 PM
📰 AP

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