Microchip Manufacturer Brings High Paying Jobs to Chatham County

Microchip Manufacturer Brings High Paying Jobs to Chatham County

SILER CITY, NC (WGHP) – Wolfspeed Inc, a company that manufactures semiconductors used in charging stations for EVs and many other products received nearly $800 million in state and local incentives to open a facility in Chatham County that will add hundreds of high-paying jobs.

The Department of Commerce’s Economic Investment Committee unanimously approved state contributions that will total $159.1 million, and the county and Siler City have contributed another $600 million, the committee heard this morning.

This image from February 4, 2022 shows microchips made by AMD Malaysia and Taiwanese multinational electronics company Foxconn in Washington, DC. (Photo by Daniel SLIM/AFP) (Photo by DANIEL SLIM/AFP via Getty Images)

The state’s contributions include more than $86 million in regular investment grants, a variety of additional grants, and about $57 million budgeted to aid in the development of the site.

This follows the earlier announcement that VinFast, a Vietnamese automaker, would build its electric vehicles at a factory in Chatham County. And there were previous state subsidies to lure Toyota’s Battery Factory to the Greensboro Randolph Megasite, Boom Supersonic to Piedmont Triad International Airport and others peripheral investments in electric vehicle development.

Wolfspeed will invest more than $5 billion by 2030 and add 1,802 employees between 2026 and 2030. These positions will pay an average minimum wage of $77,753.

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