DURHAM, N.C. — Wolfspeed, a semiconductor manufacturer based in Durham, has signed a non-binding preliminary memorandum of terms (PMT) with the U.S. Department of Commerce to receive up to $750 million in funding under the CHIPS and Science Act. The funding would support the construction of a new, 2 million-square-foot silicon carbide wafer manufacturing facility in Siler City, N.C., as well as catalyze the planned expansion of Wolfspeed’s device manufacturing facility in Marcy, N.Y. The 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 capacity expansion plan that exceeds $6 billion in total investment.
“Artificial intelligence, electric vehicles and clean energy are all technologies that will define the 21st century, and thanks to proposed investments in companies like Wolfspeed, the Biden-Harris Administration is taking a meaningful step toward reigniting U.S. manufacturing of the chips that underpin these important technologies,” says Gina Raimondo, U.S. Secretary of Commerce.
Wolfspeed has achieved LEED Silver certification for its New York plant and is pursuing LEED certification for the Siler City facility. Wolfspeed plans to conserve energy and water in both their buildings and the semiconductor manufacturing processes to cut operational emissions by 50 percent by 2030. The company also plans to claim the Department of the Treasury’s Investment Tax Credit, which is expected to be up to 25 percent of qualified capital expenditures. The construction timelines for both projects were not disclosed.