Polar Semiconductor granted $120M in CHIPS funding

URLhttps://www.manufacturingdive.com/news/polar-semic
SourceManufacturing Dive
Date Published05/13/2024
Author NameJoelle Anselmo

Additional Reshoring Information:

Company/Division name Polar Semiconductor
Type of work Manufacturing
Reshoring category:Reshoring
Year reshoring announced:2024
Year reshoring implemented or to be implemented:2029
Domestically, the work will be done:In-house
Capital investment ($):525
City reshored to:Bloomington
State(s) reshored to:MN
If relevant, work nearshored to:-
Industry(ies):Computer & Electronic Products
Product(s) reshoredsemiconductors
What domestic positive factors made reshoring more attractive?Government Incentives, Govt. Policy and subsidies
Government Incentive dollar amount:$120 million + $75 million
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