Gina M. Raimondo, Secretary of Commerce | Ballotpedia
The Biden-Harris Administration has announced a significant funding award to SK hynix, as part of the CHIPS Incentives Program. The U.S. Department of Commerce has granted up to $458 million in direct funding to support SK hynix's investment in West Lafayette, Indiana. This initiative aims to build a memory packaging plant for artificial intelligence products and an advanced packaging fabrication and research facility.
Gina Raimondo, U.S. Secretary of Commerce, stated, "By investing in companies like SK hynix and communities like West Lafayette, the bipartisan CHIPS and Science Act continues to supercharge America’s global technology leadership." She emphasized the partnership with Purdue University as crucial for strengthening America's AI hardware supply chain.
Arati Prabhakar, Assistant to the President for Science and Technology, highlighted the significance of this development: “Today’s announcement is President Biden’s CHIPS and Science Act at work. This new facility will develop state-of-the-art advanced packaging."
SK hynix CEO Kwak Noh-Jung expressed enthusiasm about collaborating with various partners: “SK hynix looks forward to collaborating with the U.S. government, the State of Indiana, Purdue University, and our U.S. business partners.”
In addition to direct funding, the CHIPS Program Office will provide up to $500 million in loans under this award. These financial incentives are part of a broader effort by CHIPS for America, which has already allocated over $26 billion in proposed incentives funding across 21 states.
For further details on these projects, information can be accessed through the CHIPS for America website.
