Funding will expand manufacturing by 50% in three years, says Uncle Sam
The Biden administration's push to bring more semiconductor manufacturing to the US has reached new heights with $23.9 million to expand Rocket Lab's New Mexico space chip bakery.the preliminary agreement this morning, saying that the deal will boost Rocket Lab's ability to manufacture compound semiconductors used in space-grade solar cells by 50 percent over the next three years.
"Solar cells are important for keeping our communication and space technology powered and operational, and this proposed award would help our military, NASA, and our commercial space industry have access to the specialty semiconductors they need," Commerce Secretary Gina Raimondo said. Along with the $23.9 million slated to come from the CHIPS Act pool, the state of New Mexico has also committed to providing $25.5 million in funding to support Rocket Lab's planned plant expansion in Albuquerque. The company said it also intends to take advantage of the Treasury's investment tax credit, allowing it to offset 25 percent of its capital expenditures on the project.
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