Microchip Technology Inc. (Nasdaq: MCHP) a leading provider of smart, connected and secure embedded control solutions, today announces plans to invest $880M to expand its silicon carbide (SiC) and silicon (Si) production capacity at its Colorado Springs, Colo. manufacturing facility over the next several years.
One significant phase of the expansion is to develop and upgrade its 50-acre, 580,000-square-foot Colorado Springs campus for increased SiC manufacturing for use in automotive/E-Mobility, grid infrastructure, green energy, and aerospace and defense applications.
Working in conjunction with the Colorado Springs Chamber & Economic Development Corporation, the City of Colorado Springs and El Paso County also announce that Microchip was approved for state and local incentives of approximately $47M for the expansion.
Colorado Springs Mayor John Suthers said, “We are very pleased Microchip has selected its Colorado Springs facility as the site for such a significant investment and expansion. We estimate this will grow our local economy by approximately $1.4 billion over the next 10 years and create roughly 400 new high-paying jobs for those living in the Pikes Peak Region. Ramping up the production of semiconductors is critical to satisfying growing demand across many industries, and Colorado Springs is proud to be one of the key locations where this effort is taking place.”
The Colorado Springs campus currently employs more than 850 people and produces products from 6-inch wafers. The manufacturing technology that Microchip is installing will run on 8-inch wafers, which will significantly increase the number of chips produced at this location. The additional 400 jobs anticipated at the facility will range from production specialists to technical roles in equipment procurement and management, process control and test engineering.