Biden Administration Backs $120M Expansion for Polar Semiconductor
Funding from the CHIPS and Science Act will enhance U.S. chip production and create jobs in Minnesota.
- Polar Semiconductor to receive up to $120 million in federal funds to expand its Minnesota facility.
- The expansion aims to double U.S. production capacity of sensor and power chips within two years.
- The project will create over 160 jobs and increase Polar's use of clean and renewable energy.
- The funding is part of the CHIPS and Science Act, designed to bolster U.S. semiconductor manufacturing.
- The investment will shift Polar from majority foreign-owned to majority U.S.-owned.