News: Suppliers
5 November 2024
IQE to add 109 jobs and invest $305m expanding US operation in Greensboro
Epiwafer and substrate maker IQE plc of Cardiff, Wales, UK has announced an expansion of its manufacturing facility in Greensboro, Guilford County, North Carolina, subject to customer commitments and funding from the US federal CHIPS and Science Act. The firm plans to add 109 jobs and invest $305m over several years.
IQE has operated for more than a decade in Greensboro, where it has 72 staff, using molecular beam epitaxy (MBE) to manufacture epiwafers for the defense and aerospace industries. This potential investment would add complementary metal-organic chemical vapor deposition (MOCVD) epitaxy and provide a new technology for the production of chips serving the electric vehicle (EV) market.
“Greensboro has proven to be a strategic location for IQE and has provided access to exceptional talent,” says interim CEO Jutta Meier. “We look forward to continuing our partnership with the city as we progress further with our application for Government funding via the CHIPS Act which, along with funding commitments from the State, will provide us with the capital to invest and expand our local footprint,” she adds.
“North Carolina has more than 110 companies exporting $1.2bn of semiconductors and microelectronics around the world,” notes North Carolina Commerce Secretary Machelle Baker Sanders. “This expansion validates our reputation for the best talent and research partnerships that continue to attract and retain advanced manufacturers like IQE.”
To help facilitate IQE’s expansion, a performance-based grant of $275,000 comes from the One North Carolina Fund, which provides financial assistance to local governments to help attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require matching participation from local governments, and any award is contingent upon that condition being met.
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the Commerce Department’s Division of Workforce Solutions, the North Carolina Community College System, Guilford Technical Community College, GuilfordWorks, the City of Greensboro, Guilford County, the Guilford County Economic Development Alliance, the Greensboro Chamber of Commerce and Duke Energy.
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