IQE plans to expand US operations
IQE Inc, the US subsidiary of UK-based IQE Plc, has announced an expansion of its compound semiconductor manufacturing facility in Greensboro North Carolina, subject to customer commitments and funding from the federal CHIPS Act.
The company plans to add 109 jobs and invest $305 million over several years.
Operating in Greensboro for more than a decade and with 72 employees, IQE manufactures epi wafers using MBE for the defence and aerospace industries. This potential investment would add MOCVD epitaxy and would provide a new clean technology for semiconductor chip production to help serve the electric vehicle market.
“Greensboro has proven to be a strategic location for IQE and has provided access to exceptional talent,” said Jutta Meier, Interim CEO of IQE. “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.”
“North Carolina has more than 110 companies exporting $1.2 billion of semiconductors and microelectronics around the world,” said N.C. Commerce Secretary Machelle Baker Sanders. “As one of the top states to do business, this expansion validates our reputation for the best talent and research partnerships that continue to attract and retain advanced manufacturers like IQE.”
A performance-based grant of $275,000 from the One North Carolina Fund will help facilitate IQE’s expansion in North Carolina. The One NC Fund 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.
