State Launches Funding to Expand Semiconductor Firms in Oregon and Leverage Federal CHIPS Act Dollars
The applications are now posted online for semiconductor firms applying for a portion of the $190 million in funding available for Oregon firms through Senate Bill 4, signed into law by Governor Kotek in April 2023. Applications will be accepted beginning on June 19. Initial review of applications will start June 28 with this round of funding closing on July 28, 2023. Additional rounds will be dependent on availability of funds. The funding is intended to help Oregon firms expand in the state and take advantage of the additional federal funding that will be available via the CHIPs Act.
“Semiconductor manufacturing is the anchor of Oregon’s economy,” said Sophorn Cheang, Director of Business Oregon. “This funding is the culmination of many Oregon leaders coming together to show the state of Oregon’s commitment to support the industry. We are leveraging Oregon’s existing competitive advantages to bring investments and high-wage jobs into the state that will keep Oregon the semiconductor innovation hub of the world for years to come.”
In August of 2022, President Biden signed the bipartisan CHIPs and Science Act into law to spur investment in U.S. advanced manufacturing, bolster supply chains, and invest in research and development. To take advantage of federal CHIPs Act funding for semiconductor manufacturers and the semiconductor supply chain, the state of Oregon made the state funding available to support Oregon firms applying for CHIPs dollars.
Semiconductor manufacturing is Oregon’s largest manufacturing sector by employment, exports, and contribution to state GDP. The industry is critically important to the state’s economy, and it has played an important role in the growth of software and other technology sectors. Oregon’s Silicon Forest is home to the most talented semiconductor workforce, developing the next generation of chips to drive future electronics.
JUNE 5, 2023 – By Press Release – Business Oregon – https://development.oregon4biz.com/acton/rif/14786/s-0680-2306/-/l-0007:4d5c/q-000c/showPreparedMessage?sid=TV2:wsO2D0S5C