Biden-Harris administration allocates $750M to Wolfspeed for semiconductor expansion, creating 2,000 jobs.
The Biden-Harris administration intends to allocate up to $750 million to Wolfspeed, a North Carolina company specializing in silicon carbide wafers for advanced computer chips. This funding will support a new factory in North Carolina and an existing one in New York, creating 2,000 jobs as part of a $6 billion expansion. Additionally, Wolfspeed is set to receive $750 million from investment funds and $1 billion in tax credits, totaling up to $2.5 billion, to bolster U.S. semiconductor manufacturing.
October 15, 2024
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