Hundreds of new jobs headed to the Centennial State
In case you missed it, U.S. Senator John Hickenlooper cheered the announcement of federal funding for Colorado-based LongPath Technologies and Microchip Technology. The good news comes from two Hickenlooper-backed bills passed last Congress, the Inflation Reduction Act and the CHIPS and Science Act.
LongPath Technologies is set to receive $189 million from the Inflation Reduction Act to support the fabrication and installation of a real time methane emissions monitoring network across Texas, Oklahoma, Kansas, Colorado, North Dakota, and New Mexico. The project is anticipated to create nearly 300 new jobs with competitive benefits.Microchip Technology will receive $162 million in federal funding under theCHIPS and Science Act to significantly increase U.S. production of semiconductors critical to the automotive, commercial, industrial, defense, and aerospace industries. The investment will create over 400 jobs across the Pikes Peak region.
Check out what they’re saying:
Colorado Public Radio: Colorado Springs semiconductor company will triple its domestic microchip production through CHIPS Act grants
A semiconductor manufacturer with facilities in Colorado and Oregon expects to triple its domestic production of computer chips as part of $162 million worth of federal grants announced Thursday.
The $90 million in Colorado funds allocated to the company Microchip marks the single largest investment thus far from the CHIPS and Science Act passed by Congress in 2022. Microchip said the money is also expected to add more than 700 jobs that will be split evenly between the two locations.
It’s part of a Biden administration plan to support the domestic production of critical computer chips. Over-reliance on foreign-sourced semiconductors has been seen as a national security concern and led to mass shortages during the COVID-19 pandemic.
“Everything that we live with today comes back to these chips,” said Democratic Sen. John Hickenlooper during an event hailing the grant at the Colorado Springs facility. “Making sure that we can onshore them…moves us forward in what is continuing to be a global competition.”
KOAA News 5: Tech company Microchip receives $90 million to expand its operation in Colorado Springs
…Senator Hickenlooper praised the bipartisan support for the Chips and Science Act, remarking that this is a way the country can come together to move forward.
“Everything comes back down to chips at the supply chains that allow us to maintain production of almost everything now and now we are actually finally competing successfully to reassure these ship manufacturing processes and capabilities that we lost over the last 20 years,” said Senator Hickenlooper.
Colorado Newsline: Colorado Springs Microchip facility could see a $90M federal investment
The Biden administration announced Thursday a preliminary agreement that could bring about $90 million from the bipartisan CHIPS and Sciences Act into Colorado to expand semiconductor producer Microchip Technology’s facilities in Colorado Springs.
…Colorado political leaders including Democratic Gov. Jared Polis, Democratic U.S. Sen. John Hickenlooper and Republican U.S. Rep. Doug Lamborn joined Locascio for Thursday’s announcement, as well as local officials including Colorado Springs Mayor Yemi Mobolade and El Paso County Commissioner Stan VanderWerf.
…The preliminary agreement with the Department of Commerce would allow Microchip to grow its production of microcontroller units and other semiconductors found in cars, phones, appliances, medical devices and other technologies people use daily. The modernization of Microchip’s facilities will allow the company to triple the amount of semiconductors it produces annually.
Microchip is pursuing a $940 million modernization and expansion of its facilitiesand could see product lines in Colorado Springs increase up to seven times current capacities. The company expects the project to bring 400 new jobs to El Paso County.