Today, the Department of Commerce made a significant announcement with a preliminary agreement with Wolfspeed.

For chips funding support. This award will see a substantial $2.5 billion in direct funding and equity contribution by Wolfspeed under the CHIPS and Science Act. This funding is a crucial step in the growth of Wolfspeed's Mohawk Valley Fab, which is dependent on the ability of Wolfspeed's Siler City facility in North Carolina to produce 200mm silicon carbide wafers, is a critical component for production at Wolfspeed's Marcy Nanocenter facility.

t's important to acknowledge Senator Charles Schumer's significant role in supporting the CHIPS and Science Act and his unwavering commitment to growing the semiconductor industry in the Mohawk Valley and New York State. His efforts have been instrumental in the most recent CHIPS announcement of funding to Wolfspeed, which will accelerate growth opportunities, including Wolfspeed's job target of over 600 employees and increased production capacity at the Mohawk Valley Fab at the Marcy Nanocenter site.

Marcy Nanocenter demonstrates true collaboration among local, county, State, and Federal officials and Wolfspeed's leadership to make the dream of advanced electronics/semiconductor manufacturing a reality right here in Oneida County.