Press release
Microchip Reaches Milestone in $800 Million, Multi-Year Initiative Aiming to Triple Semiconductor Production at its Oregon Facility
Increased staffing and capital equipment investments on track to meet expanded production goals CHANDLER, Ariz., March 13, 2023 (GLOBE NEWSWIRE) -- Microchip
About this update from Microchip Technology Incorporated
[{"type":"text","content":"Increased staffing and capital equipment investments on track to meet expanded production goals\nCHANDLER, Ariz., March 13, 2023 (GLOBE NEWSWIRE) -- Microchip Technology Inc. (Nasdaq: MCHP) – a leading provider of smart, connected and secure embedded control solutions – has reached a milestone in its multi-year, $800 million initiative aiming to triple production capacity at its Gresham, Oregon manufacturing facility. Celebrating close to the halfway mark in a major workforce expansion and capital equipment investment, the efforts are part of Microchip’s larger initiative to ramp up overall production in the U.S. as demand continues to grow for semiconductor products across a broad range of industries. “We want to recognize the Microchip Gresham team for their dedication and ongoing hard work on this expansion and thank the state of Oregon and its elected officials for the incentives they have approved in support of its completion,” said Ganesh Moorthy, President and CEO of Microchip Technology. “Our steady growth demonstrates the vital role of semiconductors and the importance of the CHIPS & Science Act for providing the economic support required to help level the global playing field for U.S. companies.” Working with the Business Oregon state economic development agency, the City of Gresham and Multnomah County, Microchip has been approved to receive state and local incentives of approximately $42.4 million for the expansion. “This good news for Gresham opens a fresh chapter for Oregon’s semiconductor industry with the new federal CHIPS & Science Act generating local dividends in the form of good-paying jobs and economic investment in our state,” said Senator Ron Wyden. “I’m proud to have worked on getting this semiconductor bill into law last year, and will keep pressing on all fronts to ensure Oregonians and the semiconductor companies that employ them benefit from this landmark legislation.” “Oregon continues to be the center of excellence for semiconductor manufacturing in the country,” Governor Tina Kotek said. “The state’s focus on economic development led to Microchip expanding its operations in Gresham. This is a win for the city, state and nation: it will bring good-paying jobs to the community, keep Oregon a national leader in chip production, and strengthen our country’s manufacturing, supply chain, and national sec...