The U.S. Department of Commerce and HP have signed a non-binding preliminary memorandum of terms to provide up to $50 million in proposed direct funding under the CHIPS and Science Act. The funding would support the expansion and modernization of HP’s existing facility in Corvallis, Oregon. The facility is part of the company’s “lab-to-fab” ecosystem in the region that spans from research and development activities to commercial manufacturing operations.
Investment to propel life sciences, tech innovation
The funding for HP seeks to enhance U.S. technological leadership by driving innovation of groundbreaking semiconductor technologies that serve important end markets including life sciences instrumentation and technology hardware for artificial intelligence applications.
HP is a leader in microfluidics and microelectromechanical systems. The company’s innovative technology provides a unique pathway to drive greater performance and efficiency of semiconductor-based hardware.
“Microfluidics has the potential to drive revolutionary changes across industries, delivering speed, efficiency and precision, to help pave the way for the next generation of innovation in life sciences and technology,” said Enrique Lores, president and CEO, HP.
Among other products, the U.S. funding would also support the production of silicon devices that are key components of life sciences lab equipment. Therefore, these devices allow for greater speed and precision during life sciences R&D.
“The Biden-Harris administration continues to deliver on our promise to bring a strong semiconductor ecosystem back to the United States and create good-paying jobs,” stated Natalie Quillian, White House deputy chief of staff.
HP’s lab-to-fab ecosystem bolstered
The HP project would build on the company’s 47-year presence in Corvallis and commitment to the local workforce. The project will create nearly 150 construction jobs and over 100 manufacturing jobs. In addition, the company’s construction partner, Andersen Construction, has entered into a Project Labor Agreement (PLA) for this project.
“It is imperative that we continue to curate and grow a U.S. semiconductor ecosystem where fabs are receiving the latest technology onshore, and then bringing those innovations to market. This all happens with proposed investments in companies like HP,” said Under Secretary of Commerce for Standards and Technology and National Institute of Standards and Technology Director, Laurie E. Locascio.
The development and expansion using U.S. funding would bolster the lab-to-fab ecosystem that HP has established in Corvallis. The ecosystem also serves as one of three R&D centers for excellence within the company’s global footprint. The Corvallis campus provides resources and tools for startups and entrepreneurs to build innovative products locally in Oregon. Moreover, it provides an opportunity for these companies to grow and reinvest in the domestic ecosystem.
Additionally, HP aims to use 100 percent renewable electricity to power its global operations by 2025.
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CHIPS and Science Act
The Biden administration introduced the CHIPS and Science Act to propel investments in the American agenda and support the growth of semiconductor manufacturing in the country.
Since the beginning of the Biden-Harris Administration, semiconductor and electronics companies have announced over $400 billion in private investments. The act created over 115,000 jobs, including tens of thousands of good-paying jobs that don’t require a college degree.
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