CBS 17 by Matthew Sockol

Durham-based business Wolfspeed has been approved to receive up to $750 million in federal funding for the construction of a new facility in Siler City.

The funding was announced by Rep. Valerie Foushee, Rep. Wiley Nickel, and Rep. Deborah Ross on Thursday. It will be provided through the CHIPS and Science Act.

According to Nickel’s office, the $750 million for the new silicon carbide wafer manufacturing facility will help create over 5,000 new jobs, including 2,000 in manufacturing and 3,000 in construction.

Nickel’s office says Wolfspeed’s expansion will reinforce North Carolina as an important hub for semiconductor manufacturing.

“North Carolina is leading the way in semiconductor manufacturing, and I’m proud to have worked alongside Reps. Ross and Foushee to support Wolfspeed’s defense appropriations requests over the past two years,” Nickel said in a statement. “This funding will not only strengthen our national security by reducing reliance on foreign supply chains, but it will also bring thousands of good-paying jobs to our state and help support working families.”

Foushee said in a statement, “I’m glad to see the Biden-Harris Administration committed to securing America’s technological future through strategic investments in semiconductor manufacturing, and I’m particularly pleased this $750 million dollar federal investment is directed to Durham’s own, Wolfspeed. This partnership, made possible by the historic CHIPS and Science Act, will not only create thousands of good-paying jobs here in North Carolina, but will help foster innovation and growth, ensure a reliable domestic supply chain, and solidify America’s place as a leader in silicon carbide manufacturing.”

Said Ross in a statement, “I am very excited to see the Biden-Harris Administration invest $750 million in American manufacturing right here in North Carolina. This proposed major investment in Wolfspeed, Inc. will create thousands of new jobs, drive economic growth, and maintain America’s technological global competitiveness. I fought to pass the bipartisan CHIPS and Science Act to bring needed investments like this back to North Carolina. I will continue fighting in Congress to ensure North Carolina is at the forefront of America’s manufacturing renaissance.”

Link to full article: https://www.cbs17.com/news/local-news/durham-county-news/durham-based-wolfspeed-to-receive-federal-funding-for-new-facility/