Biden administration announces $750 million investment in North Carolina chipmaker Wolfspeed

  • 📰 CBSNews
  • ⏱ Reading Time:
  • 15 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 68%

Technology News

North Carolina,Joe Biden,Elections

Money will go to the chipmaker's new silicon carbide factory in North Carolina and factory in Marcy, New York.

The Biden-Harris administration announced plans Tuesday to provide up to $750 million in direct funding to semiconductor developer and manufacturer Wolfspeed. The money will be used to support the company's new silicon carbide factory in North Carolina that makes the wafers used in advanced computer chips and its factory in Marcy, New York.

The new Wolfspeed facility in Siler City could be a critical symbol in this year's election, as it opened earlier this year in a swing state county that is undergoing rapid economic expansion in large part due to incentives provided by the Biden-Harris administration.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 87. in US

United States United States Latest News, United States United States Headlines