Wolfspeed (New York)

Credit: CHIPS for America

On October 15, 2024, The U.S. Department of Commerce and Wolfspeed, Inc. signed a non-binding preliminary memorandum of terms (PMT) to provide up to $750 million in proposed direct funding under the CHIPS and Science Act. In addition to Wolfspeed’s North Carolina project, the proposed CHIPS investment is expected to catalyze the planned expansion of its device manufacturing facility in Marcy, New York.

• The proposed CHIPS funding would be split across two projects in the Siler City, NC, and Marcy, NY locations:
  • Wolfspeed plans to expand its existing silicon carbide device manufacturing facility in Marcy, New York
• The proposed investment would contribute to the growth of the manufacturing facility as the world’s first fully automated 200mm silicon carbide power device fab and increase its production capacity by approximately 30%.  This fab is qualified to serve both automotive and industrial and energy customers
• The North Carolina and New York projects together are estimated to create over 2,000 manufacturing jobs and 3,000 construction jobs and are part of the company’s previously announced more than $6 billion capacity expansion plan. 
• Wolfspeed has established partnerships with programs, such as Real Life Rosies and VET ST.E.P., to develop and recruit more women and military veterans into the semiconductor workforce.