Entegris, the Massachusetts-based supplier of electronic materials for semiconductor makers and other industries, is slated to receive $75 million from a federal program designed to boost the nation’s chipmaking capacity — money that would support construction of the company’s state-of-the-art, $600 million manufacturing facility being built in Colorado Springs.
The company and the U.S. Department of Commerce announced a preliminary agreement this week for Entegris to receive the funding via the Creating Helpful Incentives to Produce Semiconductors and Science program — known as the CHIPS and Science Act. Federal lawmakers and the Biden administration created the program in 2022 to provide financial incentives to expand the presence and construction of microprocessor manufacturing facilities in the United States, among other initiatives.
The Commerce Department in January also announced plans to award $90 million to Microchip Technology, which will help the Arizona-based company boost production at its Colorado Springs semiconductor plant.