Business Oregon is seeking written interest from semiconductor firms that would consider applying for a portion of the $190 million in funding expected to be available for Oregon semiconductor firms through Senate Bill 4.
The funding is intended to help Oregon firms expand in the state and take advantage of the additional federal funding that will be available via the CHIPs Act. In August of 2022, President Biden signed the bipartisan CHIPs and Science Act into law that is intended to spur investment in U.S. advanced manufacturing, bolster supply chains, and invest in research and development. To take advantage of federal CHIPs Act funding for semiconductor manufacturers and the semiconductor supply chain, the Oregon Legislature is moving forward with Senate Bill 4, which would allocate up to $190 million to support Oregon firms applying for CHIPs dollars.
In advance of Senate Bill 4 being signed into law, Business Oregon encourages semiconductor firms to fill out a Statement of Interest form regarding the potential funding. The form, as well as any questions, should be submitted via email to Oregon.CHIPS@oregon.gov.
Semiconductor manufacturing is Oregon’s largest manufacturing sector in employment, exports, and contribution to state GDP. Its importance to the state’s economy cannot be overstated, and it has played an important role in the growth of software and other technology sectors. Oregon’s Silicon Forest is home to the most talented semiconductor workforce, developing the next generation of chips to drive future electronics.
To learn more about the Oregon semiconductor industry and the CHIPS Act, visit www.oregon.gov/biz/.
Business Oregon, the state’s economic development agency, invests in Oregon businesses, communities, and people to promote a globally competitive, diverse, and inclusive economy. The agency’s services span rural community development and infrastructure financing; business retention, expansion and recruitment; export promotion and international trade; investments in industry research and development and entrepreneurship; small business assistance; and support for arts and cultural organizations. Learn more at biz.oregon.gov.