Key Points of the Investment
- The U.S. Department of commerce and Wolfspeed, Inc. have signed a non-binding preliminary memorandum of terms for up to $700 million in funding.
- The investment will support the construction of a new silicon carbide wafer manufacturing facility in Siler City, North Carolina.
- Additional funding will aid the expansion of Wolfspeed's device manufacturing facility in Marcy, New York.
- These projects are part of Wolfspeed's $6 billion capacity expansion plan, expected to create over 2,000 manufacturing jobs and 3,000 construction jobs.