By KYRA BUCKLEY/Oregon Public Broadcasting
Technology company HP Inc. is set to receive as much as $50 million to expand its Corvallis facilities as part of an overall effort to support semiconductor development in the U.S., the federal government announced Tuesday.
The potential funding is part of the federal CHIPS and Science Act which aims to attract advanced computer chip manufacturing back to the U.S.
Formerly known as Hewlett Packard, HP is a major manufacturer of personal computers and related devices. Company leaders say it provides cutting-edge research and manufacturing to support the wider semiconductor industry, which employs more than 30,000 workers in Oregon, according to state data.
HP chief executive officer Enrique Lores said the proposed investment would allow HP to further invest in microfluidics technology, which Lores described as the study of the behavior and control of fluid on a microscopic scale.
If awarded the funds, HP said it would add to its existing facilities in Corvallis. The proposed project could create 150 temporary construction jobs and more than 100 manufacturing positions.
The federal funding is likely but not a guarantee – HP will need to hit certain milestones to stay in the running.
Earlier this year, HP received $9.5 million from the state geared towards the same expansion project. It’s part of the Oregon CHIPS Act, a $190 million package meant to support the federal legislation.
Overall, Oregon companies and universities have already received pledges for billions in federal CHIPS Act funding and millions in state funding. Economists watching Oregon’s semiconductor firms expect that money will help speed up planned expansion projects and spur more semiconductor research in the state.
In March the U.S. Department of Commerce announced Intel, another semiconductor firm with a large presence in Oregon, could receive upwards of $8.5 billion in CHIPS Act funding. Intel considers its Hillsboro campus the heart of its research and development and employs more than 20,000 Oregonians.