WASHINGTON, D.C. — The Department of Commerce and HP Inc. recently announced a pivotal memorandum of terms, proposing up to $50 million in funding under the CHIPS and Science Act. This initiative is set to bolster HP’s facility in Corvallis, Oregon, with an expansion aimed at strengthening the U.S. semiconductor landscape.
The proposed funding is part of the Biden-Harris Administration’s Investing in America agenda, a comprehensive effort to reignite domestic semiconductor manufacturing. By supporting HP’s “lab-to-fab” operations, which encompass research, development, and commercial manufacturing, this investment seeks to rejuvenate the U.S. supply chain, create high-paying jobs, and drive forward-looking investments in critical industries such as life sciences and artificial intelligence.
HP’s expertise in microfluidics and microelectromechanical systems (MEMS) positions it uniquely to enhance the performance and efficiency of semiconductor technologies. The funding would support the production of silicon devices essential for life sciences equipment, facilitating advancements in drug discovery and cell line development. These innovations are integral to the operations of leading institutions, including Harvard Medical School and the Centers for Disease Control and Prevention.
Commerce Secretary Gina Raimondo stated, “The Biden-Harris Administration’s proposed investment in HP underscores our commitment to every facet of the semiconductor supply chain. This technology is vital for breakthroughs in drug discovery and critical life science instrumentation.”
The expansion in Corvallis, where HP has been rooted for 47 years, is expected to generate nearly 150 construction jobs and over 100 manufacturing positions. A Project Labor Agreement has been established with Andersen Construction to ensure the project’s success. Moreover, HP’s collaboration with Portland Community College and its involvement in workforce training initiatives highlight its commitment to community engagement and development.
Under Secretary Laurie E. Locascio emphasized the strategic importance of HP’s role, noting the profound opportunity to lead the U.S. semiconductor market in innovation through the CHIPS and Science Act. “The potential for companies like HP to elevate our industry is both inspiring and essential,” she remarked.
In addition to expanding its Corvallis facility, HP aims to power its global operations with 100% renewable energy by 2025, showcasing its dedication to sustainability. The company plans to leverage the Department of the Treasury’s Investment Tax Credit, further cementing its pledge to environmentally responsible practices.
This memorandum not only signifies a robust partnership between HP and the Department of Commerce but also embodies a broader commitment to positioning the United States as a leader in cutting-edge semiconductor technology, securing its place in the global market for years to come.
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