Press release
Microchip Plans to Invest $880 Million to Expand its Silicon Carbide (SiC) and Silicon (Si) Capacity in Colorado
Ramping up production at its Colorado Springs fabrication campus will enable Microchip to respond to growing semiconductor demand across a wide swath of
About this update from Microchip Technology Incorporated
[{"type":"text","content":"Ramping up production at its Colorado Springs fabrication campus will enable Microchip to respond to growing semiconductor demand across a wide swath of industries\nCHANDLER, Ariz., Feb. 17, 2023 (GLOBE NEWSWIRE) -- Microchip Technology Inc. (Nasdaq: MCHP) a leading provider of smart, connected and secure embedded control solutions, today announces plans to invest $880M to expand its silicon carbide (SiC) and silicon (Si) production capacity at its Colorado Springs, Colo. manufacturing facility over the next several years. One significant phase of the expansion is to develop and upgrade its 50-acre, 580,000-square-foot Colorado Springs campus for increased SiC manufacturing for use in automotive/E-Mobility, grid infrastructure, green energy, and aerospace and defense applications. Working in conjunction with the Colorado Springs Chamber & Economic Development Corporation, the City of Colorado Springs and El Paso County also announce that Microchip was approved for state and local incentives of approximately $47M for the expansion. Colorado Springs Mayor John Suthers said, “We are very pleased Microchip has selected its Colorado Springs facility as the site for such a significant investment and expansion. We estimate this will grow our local economy by approximately $1.4 billion over the next 10 years and create roughly 400 new high-paying jobs for those living in the Pikes Peak Region. Ramping up the production of semiconductors is critical to satisfying growing demand across many industries, and Colorado Springs is proud to be one of the key locations where this effort is taking place.” U.S. Senator for Colorado Michael Bennet said, “Last year, I helped pass the CHIPS and Science Act to reinvigorate America’s semiconductor industry and bring manufacturing jobs back to America. In Colorado, we’re already seeing the benefits as companies prepare for historic investments from the law. Microchip’s planned expansion in Colorado Springs will not only strengthen our national security, but also expand opportunity with another 400 good-paying jobs.” U.S. Senator for Colorado John Hickenlooper said, “Thanks to our CHIPS Act and Microchip, we’re bringing manufacturing back to America. Semiconductors are the space race of our time, and Colorado is going to help us win it.” U.S. Congressman Doug Lamborn said, “It is exciting to have Microch...