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Microchip Technology, Inc. (Colorado)
Key Facts
On January 4, 2024, Under Secretary of Commerce for Standards and Technology and the Director of the National Institute of Standards and Technology Laurie E. Locascio announced that the Department of Commerce and Microchip Technology Inc. have signed a non-binding preliminary memorandum of terms (PMT).
- The proposed $162 million in federal incentives would be split across two separate projects. For Colorado Springs, Colorado, the project consists of:
- Approximately $90 million to modernize and expand a fabrication facility in Colorado Springs, Colorado
- This proposed investment would enable Microchip to significantly increase its U.S. production of microcontroller units and other specialty semiconductors built on mature-nodes critical to America’s automotive, commercial, industrial, defense, and aerospace industries.
- The projects are estimated to nearly triple the share of semiconductors the company produces at these sites, decreasing its reliance on foreign foundries and strengthening supply chain resilience.
Read the full CHIPS for America press release by clicking here.