The proposal funds It will support technologies that serve the instrumentation of life sciences and technology hardware used in artificial intelligence applications and other projects, the department said.
In August 2022, Congress approved a $39 billion subsidy program for American semiconductors. manufacturing and related components along with $75 billion in government borrowing authority and a 25% investment tax credit worth an estimated $24 billion.
The projects are based on HP’s experience in microfluidics and microelectromechanical systems with funding to support the manufacturing of silicon devices critical to life sciences laboratory equipment used in drug discovery, single cell research, and cell line development.
Commerce Secretary Gina Raimondo said the proposed $50 million in funding for HP’s Corvallis, Oregon, campus “shows how we are investing in every part of the semiconductor supply chain and how important semiconductor technology is to innovation in drug discovery and critical life sciences equipment.”
The department said the technology will power partner institutions including Harvard Medical School, the U.S. Centers for Disease Control and Prevention and Merck.
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HP CEO Enrique Lores said the funding “gives HP the opportunity to modernize and expand our facilities to continue investing in our microfluidics technology.” The department has announced tender documents with 17 companies offering more than $32 billion in grants and up to $29 billion in loans.
It also made other planned major awards, including $6.4 billion to South Korea’s Samsung to expand chip production in Texas.
Intel won $8.5 billion in subsidies in March, while Taiwan’s TSMC got $6.6 billion to develop its U.S. production and memory chipmaker Micron Technology won $6.1 billion to help fund domestic chip factory projects.
Not all awards have been finalized and amounts may change after the Department of Commerce conducts due diligence.
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