IQE, Inc., a global semiconductor manufacturer, has announced plans to expand its operations in Guilford County, North Carolina. The expansion is contingent upon customer commitments and funding from the federal CHIPS Act. The company aims to invest $305 million over several years and add 109 jobs to its Greensboro facility. This move underscores IQE’s commitment to future investments in the region.
IQE, Inc. is a subsidiary of IQE, PLC, and has operated in Greensboro for more than a decade with 72 employees. The company manufactures epi wafers using molecular beam epitaxy for the defense and aerospace sectors. The planned investment will introduce a new epitaxy method called metal-organic chemical vapor deposition (MOCVD), enhancing semiconductor chip production technology for the electric vehicle market.
The expansion is supported by a $275,000 performance-based grant from the One North Carolina Fund. This fund aids local governments in attracting economic investment and job creation. Companies must meet specific job creation and capital investment goals to qualify for grant payments, with no upfront money provided.
The average annual wage for the new positions is projected at $64,908, surpassing the Guilford County average of $58,843. This could result in an annual payroll impact exceeding $7 million for the region. Additionally, various state and local agencies, including the North Carolina Department of Commerce and the Greensboro Chamber of Commerce, are collaborating on this project.
The announcement has been well-received by state officials, highlighting North Carolina’s strong business climate and workforce. Governor Cooper and other leaders emphasized the state’s reputation for innovation and manufacturing prowess, which continues to attract advanced manufacturers like IQE to the region.
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