HP Inc. Awarded $53 Million for Expansion in Oregon

The Biden administration has awarded HP Inc. up to $53 million in funding to expand its facility in Corvallis, Oregon, as part of the CHIPS and Science Act aimed at bolstering domestic semiconductor manufacturing. This funding will facilitate the growth of HP's research and development hub, expected to create 100 production jobs and 150 construction positions. U.S. Secretary of Commerce Gina Raimondo emphasized the importance of such investments in fostering technological advancements crucial for future generations. The funding will be disbursed based on HP's completion of project milestones and will support innovations in micro-electro-mechanical systems (MEMS) used in the semiconductor and life sciences sectors. This award highlights ongoing federal efforts to enhance the U.S. competitive edge in the semiconductor industry, following similar funding to other companies like Intel and Microchip Technologies. The announcement comes amid broader initiatives to secure domestic capabilities in semiconductor production ahead of potential shifts in administration policy.