Minnesota Semiconductor Chips: A $123 Million Grant to Boost Production
Significant Funding for Minnesota Semiconductor Chips
The U.S. Commerce Department has announced a pivotal investment in minnesota semiconductor chips, awarding a $123 million grant to Polar Semiconductor. This funding will allow the company to expand its plant, effectively doubling its U.S. production capacity of sensor chips and power chips.
A Step Forward in Chip Manufacturing
This grant is part of the Biden administration's broader $52.7 billion semiconductor manufacturing and research subsidy program. As the first award to be finalized, it sets a significant precedent, emphasizing the government's commitment to enhancing domestic chip production.
- The award supports Polar's completion of project milestones.
- It aims to bolster the U.S. semiconductor supply chain.
- Finance supports innovation in chip technology.
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