Rogue Valley Microdevices receives $6.7 million from Chips Act to build new foundry in Florida
Rogue Valley Microdevices (RVM) will be receiving $6.7 million in funding from the CHIPS and Science Act to build a pure play microelectromechanical systems (MEMS) and sensor foundry facility in Palm Bay, Florida. The company signed a non-binding preliminary memorandum of terms (PMT) with the U.S. Department of Commerce. It’s estimated that this new facility will nearly triple RVM’s manufacturing capacity. To help aid the project, RVM plans to claim the Department of the Treasury’s Investment Tax Credit. Additionally, the company has received $5 million from a Florida Department of Commerce loan and $3.2 million from other incentives and additional grants. Production at the new plant will begin in 2025.
What people are saying
In a recent quote, Rogue Valley Microdevices Founder and CEO Jessica Gomez said, “As the first MEMS foundry to secure proposed CHIPS and Science Act funding, Rogue Valley Microdevices is deeply committed to the onshore manufacturing of advanced microelectronics. We plan to use this capital infusion to increase production of the miniature, intelligent sensors that are critical to markets for which a robust supply chain is essential, including automotive, biomedical, and industrial. We’ll also ramp expansion from our west coast foundry in Oregon to our new location on the Space Coast of Florida, which will soon become the industry’s first MEMS pure-play foundry to offer 300mm capability.”
U.S. Secretary of Commerce Gina Raimondo added, “The proposed investment in RVM is another example of how the Biden-Harris Administration is making targeted investments across the semiconductor supply chain to reignite U.S. leadership in semiconductor manufacturing. Because of President Biden’s CHIPS and Science Act, we are working to secure U.S.-based companies a stable, domestic supply of MEMS technology when demand is increasing across the globe.”
Manufacturers benefiting from the CHIPS Act
Entegris receives $75 million from CHIPS Act to build Colorado facility and support the semiconductor supply chain
Operation at the plant is expected to begin in 2025, with 600 new jobs being created in the process.
Polar Semiconductor receives $120 million from the CHIPS Act to expand Minnesota plant
The expansion is expected to allow Polar to increase its production of 200mm semiconductor wafers to approximately 40,000 wafers per month.
Micron Technology receives $6.1 billion from CHIPS and Science Act to establish new fabs in New York and Idaho
Micron plans to invest over $100 billion over the next two decades, generating tens of thousands of direct and indirect jobs.
Investing in American manufacturing in 2024
This map shows where manufacturers are choosing to invest their resources, whether they are building new production facilities or expanding existing plants.