Microchip, a leading producer of semiconductor devices announced yesterday a preliminary memorandum of terms (PMT) resulting in $90 million to modernize and expand a its fabrication facility in Colorado Springs, Colorado as part of $162 million in overall direct funding to support the company’s semiconductor supply chain. With nearly 1,000 employees in the state, Microchip is the second semiconductor company to be identified for federal funding through the CHIPS and Science Act (and the first in Colorado). This is the largest federal investment in CHIPS manufacturing announced by the Department of Commerce to date. Attending the event was Governor Jared Polis, Colorado Office of Economic Development and International Trade (OEDIT), and the U.S. Department of Commerce.
