HP receives $50 million in federal CHIPS Act funding to expand Corvallis facilities • Oregon Capital Chronicle

The potential funding is part of the federal CHIPS and Science Act, which aims to bring advanced computer chip manufacturing back to the United States.

HP, formerly known as Hewlett Packard, is a major manufacturer of personal computers and related equipment. The company's management says that the company conducts cutting-edge research and manufacturing to support the entire semiconductor industry, which more than 30,000 workers in Oregonaccording to government data.

HP CEO Enrique Lores said the planned investment will enable HP to further invest in microfluidics technology, which Lores said is the study of the behavior and control of fluids at a microscopic scale.

“Microfluidics has the potential to drive revolutionary change across all industries, delivering speed, efficiency and precision to pave the way for the next generation of innovations in life sciences and technology,” Lores said in a statement.

HP announced that if the funding is awarded, the company will expand its existing facilities in Corvallis. The planned project could create 150 temporary construction jobs and over 100 manufacturing jobs.

Federal funding is likely but not guaranteed – HP must meet certain milestones to stay in the running.

Beginning of the year HP received $9.5 million from the state is aimed at the same expansion project. It is part of the Oregon CHIPS Act, a $190 million package to support federal legislation.

Overall, companies and universities in Oregon have already received commitments for Billions in federal funds under the CHIPS Act and millions in state funding. Economists who track Oregon's semiconductor companies expect the money will help accelerate planned expansion projects and boost semiconductor research in the state.

In March The U.S. Department of Commerce announced that Intelanother semiconductor company with a large presence in Oregon, could receive more than $8.5 billion in funding from the CHIPS Act. Intel considers its Hillsboro campus the heart of its research and development and employs more than 20,000 Oregonians.