The Department of Defense awarded Wolfspeed a $1.5 billion federal investment to expand silicon carbide semiconductor manufacturing in New York’s Mohawk Valley. The award, issued through the Office of Strategic Capital, takes the form of a 30-year loan commitment. Funds are designated for production expansion at the Marcy Nanocenter facility.
What it means
The investment supports strengthening the domestic supply chain for advanced semiconductors used in aerospace, defense, and infrastructure sectors. Sen. Chuck Schumer said the funding will create good-paying jobs and establish Upstate New York as a semiconductor manufacturing leader. He stated he had advocated for years for federal investment to help Wolfspeed scale domestic production of silicon carbide chips.
Key facts
- $1.5 billion: Federal loan commitment from the Department of Defense
- 30-year: Duration of the loan commitment
- Marcy Nanocenter: Site of production expansion in Mohawk Valley, New York
- Sectors served: Aerospace, defense, and infrastructure
- Issuer: Office of Strategic Capital
Source: Department of Defense announcement