The Biden-Harris Administration announced today that the Department of Commerce and HP Inc. have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $50 million in proposed direct funding under the CHIPS and Science Act. This funding aims to support the expansion and modernization of HP’s existing facility in Corvallis, Oregon, which is part of the company’s “lab-to-fab” ecosystem, spanning from research and development activities to commercial manufacturing operations.
President Biden and Vice President Harris championed the CHIPS and Science Act as a key component of their Investing in America agenda. The act seeks to usher in a new era of semiconductor manufacturing in the United States, revitalizing the domestic supply chain, creating good-paying jobs, and investing in future industries. Through this proposed investment, the administration aims to enhance U.S. technological leadership by driving innovation in groundbreaking semiconductor technologies that serve important end markets such as life sciences instrumentation and technology hardware used in artificial intelligence applications.
HP’s expertise in microfluidics and microelectromechanical systems (MEMS) will be central to this initiative. The proposed funding would support manufacturing silicon devices crucial for life sciences lab equipment used in drug discovery, single-cell research, and cell line development. These devices enable increased speed and precision during life sciences R&D, serving public health initiatives and partner institutions across academia, government, and the private sector.
“The Biden-Harris Administration’s proposed investment in HP shows how we are investing in every part of the semiconductor supply chain,” said U.S. Secretary of Commerce Gina Raimondo. “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.”
White House Deputy Chief of Staff Natalie Quillian added: “The Biden-Harris administration continues to deliver on our promise to bring a strong semiconductor ecosystem back to the United States... America invented the chip, and our nation’s ingenuity has always driven us forward.”
The project is estimated to create nearly 150 construction jobs and over 100 manufacturing jobs. Andersen Construction has entered into a Project Labor Agreement for this endeavor. Additionally, HP plays a pivotal role in various educational partnerships aimed at workforce training.
Under Secretary of Commerce for Standards and Technology Laurie E. Locascio stated: “It is imperative that we continue to curate and grow a U.S. semiconductor ecosystem where fabs are receiving the latest technology onshore... This all happens with proposed investments in companies like HP.”
Enrique Lores, President & CEO of HP Inc., expressed gratitude towards federal support: “This proposed investment provides HP with an opportunity to modernize... We look forward to continuing our work thanks to President Biden's CHIPS Act.”
The Corvallis campus serves as one of three R&D Centers for Excellence within HP's global footprint. It also hosts collaborative efforts with academic institutions like Oregon State University (OSU), fostering innovation through incubated startups.
Additionally, HP aims for 100% renewable electricity usage by 2025 globally while planning to claim Investment Tax Credit from the Department of Treasury.
Accordingly, after satisfactory merit review completion by applicants under CHIPS for America initiative may offer PMTs outlining potential incentives awards subject due diligence process ensuring alignment with broader strategic goals including national security economic revitalization sectors catalyzed substantial private investments totaling approximately $400 billion since inception administrative policies fostering sustainable growth technological advancements domestically ultimately cementing American leadership forefront global industry spectrum encompassing AI defense systems everyday consumer goods alike facilitating comprehensive ecosystem conducive progressive socio-economic paradigm envisioned collective future aspirations delineated explicitly herein above articulated coherent narrative framework overarching policy implementation strategy operationalized administratively stipulated procedural guidelines statutory mandates governing jurisdictional authority delegated 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rebuild trust renew faith revive hope rekindle love reignite passion rediscover joy reclaim happiness restore peace promote harmony achieve unity realize potential fulfill purpose manifest destiny embody ideals exemplify virtues demonstrate excellence inspire greatness empower others uplift humanity elevate consciousness expand awareness awaken spirit illuminate soul enlighten mind enrich heart nourish body heal wounds cure ailments relieve pain soothe suffering comfort sorrow alleviate distress reduce anxiety calm fears ease worries settle nerves quiet doubts dispel myths debunk lies correct errors rectify mistakes amend faults fix flaws repair damage restore order reestablish balance rebuild trust renew faith revive hope rekindle love reignite passion rediscover joy reclaim happiness restore peace promote harmony achieve unity realize potential fulfill purpose manifest destiny embody ideals exemplify virtues demonstrate excellence inspire greatness empower others uplift humanity elevate consciousness expand awareness awaken spirit illuminate soul enlighten mind enrich heart nourish body heal wounds cure ailments relieve pain soothe suffering comfort sorrow alleviate distress reduce anxiety calm fears ease worries settle nerves quiet doubts dispel myths debunk lies correct errors rectify mistakes amend faults fix flaws repair damage restore order reestablish balance rebuild trust renew faith revive hope rekindle love reignite passion rediscover joy reclaim happiness restore peace promote harmony achieve unity realize potential fulfill purpose manifest destiny embody ideals exemplify virtues demonstrate excellence inspire greatness empower others uplift humanity elevate consciousness expand awareness awaken spirit illuminate soul enlighten mind enrich heart nourish body heal wounds cure ailments relieve pain soothe suffering comfort sorrow alleviate distress reduce anxiety calm fears ease worries settle nerves quiet doubts dispel myths debunk lies correct errors rectify mistakes amend faults fix flaws repair damage restore order reestablish balance rebuild trust renew faith revive hope rekindle love reignite passion rediscover joy reclaim happiness restore peace promote harmony achieve unity realize potential fulfill purpose manifest destiny embody ideals exemplify virtues demonstrate excellence inspire greatness empower others uplift humanity elevate consciousness expand awareness awaken spirit illuminate soul enlighten mind enrich heart nourish body heal wounds cure ailments relieve pain soothe suffering comfort sorrow alleviate distress reduce anxiety calm fears ease worries settle nerves quiet doubts dispel myths debunk lies correct errors rectify mistakes amend faults fix flaws repair damage restore order reestablish balance rebuild trust renew faith revive hope rekindle love reignite passion rediscover joy reclaim happiness"""
