SK Hynix nabs $450M in CHIPS funds

URLhttps://www.manufacturingdive.com/news/sk-hynix-in
Sourcemanufacturing dive
Date Published08/06/2024
Author NameKate Magill

Additional Reshoring Information:

Company/Division name SK Hynix
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):1000
Year reshoring announced:2024
Year reshoring implemented or to be implemented:2028
Domestically, the work will be done:In-house
Capital investment ($):450
Country(ies) from which reshored:Korea, South
City reshored to:West Lafayette
State(s) reshored to:IN
If relevant, work nearshored to:-
Industry(ies):Computer & Electronic Products
Product(s) reshoredadvanced packaging fabrication for chips
What domestic positive factors made reshoring more attractive?Government Incentives, Govt. Policy and subsidies, Manufacturing/engineering joint innovation (R&D), Skilled workforce availability/training
Government Incentive dollar amount:$450 million in CHIPS and Science Act funding
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