Gov. Tina Kotek on Monday announced a $1 million grant program to help small to mid-sized Oregon businesses prepare competitive applications for semiconductor manufacturing and research funding.
The federal CHIPS and Science ACT provides $52 billion for advancing this research- and Oregon is vying for a large portion of the money.
“Oregon is going to make the most of this historic opportunity – and that includes supporting the innovators who deserve access to the CHIPS Act funds and need support to navigate all of the federal requirements,” Gov. Kotek said.
Semiconductors, or microchips, control the flow of electricity in electronic devices. They are made from pure elements like silicon or germanium and are crucial to the operation of smartphones, radios, TV’s, computers and more.
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The grant program is funded through Business Oregon’s Strategic Reserve Fund, and grants will be distributed to private semiconductor firms in Oregon.
Gov. Kotek is also recommending a $200 million investment to create a new Opportunity Fund for advanced manufacturing business expansion and recruitment.
“The national movement to expand domestic semiconductor production is great news for Oregon,” Governor Kotek said. “We can and will continue to be a global leader in advanced manufacturing and semiconductor innovation.”
Business Oregon is finalizing the rules and processes for the new grant program. In the next four years, they will provide support for small and mid-sized businesses applying for CHIPS Act funding.