Business
SkyWater Plans to Build Advanced $1.8B Semiconductor Manufacturing Facility in Partnership with the State of Indiana and Purdue University
Public-private partnership to pursue CHIPS funding critical for national security, advanced domestic supply and creation of jobs in America BLOOMINGTON,
About this update from Skywater Technology, Inc.
[{"type":"text","content":"\nPublic-private partnership to pursue CHIPS funding critical for national security, advanced domestic supply and creation of jobs in America\n\n BLOOMINGTON, Minn. & WEST LAFAYETTE, Ind.--(BUSINESS WIRE)--\nSkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced its plans to build a $1.8 billion U.S. semiconductor R&D and production facility in Indiana through a dynamic public-private partnership with the state and Purdue University to pursue CHIPS (Creating Helpful Incentives to Produce Semiconductors) for America Act funding. The Indiana facility, to be located on the Purdue campus in the Discovery Park District, will provide access to SkyWater’s development services, volume production and heterogeneous integration solutions the company currently offers in its Minnesota and Florida facilities.\n\nThe ability to make this large of an investment will be the result of SkyWater, Purdue University and the State of Indiana working together to successfully obtain federal incentives in the form of grants as defined in the CHIPS Act currently making its way through Congress. Subsequently, SkyWater will continue implementing its co-investment business model through engagements with customers, suppliers and other agencies to ensure those resources are applied to advanced capabilities, new tools and scaled production.\n\nAccording to U.S. Senator Todd Young of Indiana, “For months, state leaders including Governor Holcomb, Secretary Chambers, President Daniels, and private enterprise have partnered to create a semiconductor corridor here in the Heartland. Today’s announcement is a direct result of those efforts. In Washington, we are on the verge of passing a major investment in next generation technologies that is vital for the success of this and future projects, and that will ensure Indiana remains at the center of our high-tech national security economy.”\n\n“This endeavor to bolster our chip fabrication facilities will rely on funding from the CHIPS Act. Federal investment will enable SkyWater to more quickly expand our efforts to address the need for strategic reshoring of semiconductor manufacturing,” said Thomas Sonderman, SkyWater president and CEO. “Through our alliance with the Indiana Economic Development Corporation and Purdue Research Foundation, we have a unique opportunity to increa...