(The Center Square) - Hewlett-Packard will receive up to $50 million from the CHIPS and Science Act, the Biden White House announced this week.
The decision provides funding to a major computer company based in Oregon.
“HP invented its inkjet printer here in Corvallis, and the facility still remains one of the company’s leading research posts, contributing to our state’s leadership in technological innovation,” Governor Tina Kotek said in a statement. “Oregon is a leader in the semiconductor industry because of our world-class talent and strong partnerships with higher education. We are uniquely positioned to enhance national security by helping to grow the country’s semiconductor industry. Thank you to the leadership of the Biden-Harris Administration in making this critical award possible.”
State Representative Daniel Nguyen, D-Lake Oswego, also praised the Biden administration for providing the funding.
“The federal CHIPs Act investment announced today helps Oregon remain competitive and cement the state as a leader in semiconductor manufacturing and research,” Nguyen said. "Hewlett Packard has long been an innovator and a critical leader in Oregon’s research and development economy, spurring family-wage jobs and strategic partnerships in developing Oregon’s workforce for the future. This recognition of the cutting-edge work done in Corvallis reinforces the legislature’s commitment to support the semiconductor industry in Oregon.”
U.S. Secretary of Commerce Gina Raimondo said the move shows how the Biden administration is securing the country's semiconductor industry.
“The Biden-Harris Administration’s proposed investment in HP 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 science equipment,” Raimondo said in a statement. “Thanks to President Biden and Vice President Harris’s leadership, the United States will continue leading the world in innovative breakthroughs which all require advanced semiconductor technology while also generating economic opportunity.”
Governor Kotek signed the Oregon CHIPS Act into law during the 2023 legislative session. It provided $240 million to create a grant and loan program supporting the state's semiconductor industry. The state passed it in response to the CHIPS and Science Act that President Joe Biden signed into law in August 2022. The state bill, in part, offered aid to companies applying for federal CHIPS Act funding.
In addition to the $50 million from the federal government, HP has received $9.5 million in state CHIPS Act funding from Oregon.
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