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Biden Administration's $162 Million Funding Boosts Microchip Technology in Colorado and Oregon

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  • The Biden administration awarded $162 million from the CHIPS and Science Act to Microchip Technology for expansion in Oregon and Colorado.
  • The funding aims to triple the company's production capacity and create over 700 jobs.
  • Microchip Technology produces components crucial for consumer and defense products like electric vehicles, smart devices, and medical equipment.
  • The fund distribution includes $90 million for a Colorado plant and $72 million for an ongoing $800 million expansion in Oregon.
  • This funding is part of efforts to strengthen U.S. semiconductor manufacturing and reduce reliance on foreign suppliers.

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