Lubbock X-Fab could receive $50 million in federal funds, create 150 jobs

Science and Technology Science and Technology

Fri, December 6, 2024

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[ Fri, Dec 06th 2024 ] - USA Today

Lubbock X-Fab could receive $50 million in federal funds, create 150 jobs

^{Published on 2024-12-06 08:32:31 - USA Today}

Up to $50 million in federal funding and 150 jobs could be added to Lubbock's X-Fab facility, the U.S. Department of Commerce announced this week.

The U.S. Department of Commerce has announced that X-FAB, a German semiconductor company, will receive up to $50 million in federal funding through the CHIPS for America program to expand its facility in Lubbock, Texas. This investment aims to enhance the production of silicon carbide chips, which are crucial for electric vehicles, renewable energy systems, and other high-tech applications. The funding will support the construction of a new 200mm wafer fabrication facility, expected to create over 1,000 jobs and significantly boost the local economy. This initiative is part of a broader effort to strengthen domestic semiconductor manufacturing, reduce reliance on foreign supply chains, and advance U.S. technological leadership in critical industries.

Read the Full USA Today Article at:
[ https://www.usatoday.com/story/business/2024/12/06/x-fab-lubbock-facility-to-receive-up-to-50-million-in-federal-funding-chips-for-america/76806122007/ ]

N@N

Lubbock X-Fab could receive $50 million in federal funds, create 150 jobs