Biden Administration Finalizes $123 Million CHIPS Act Award for Polar Semiconductor

The funding will nearly double U.S. production capacity of sensor and power chips and create over 160 jobs in Minnesota.

Polar Semiconductor will receive up to $123 million to expand and modernize its manufacturing facility in Bloomington, Minnesota.
The investment is part of the $52.7 billion CHIPS and Science Act aimed at boosting U.S. semiconductor production.
The expansion project will increase Polar's production from 20,000 to 40,000 wafers per month, serving aerospace, automotive, and defense sectors.
The total project budget is over $525 million, with contributions from private, state, and federal sources.
The initiative is expected to create more than 160 construction and manufacturing jobs and transition Polar to a majority U.S.-owned foundry.