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You are here: Home / Community / Business News / $1.8 billion semiconductor plant will bring 750 jobs to Indiana

$1.8 billion semiconductor plant will bring 750 jobs to Indiana

August 3, 2022 – By Larry Avila

Minnesota-based SkyWater Technology will invest $1.8 billion to build a new plant in Indiana.

SkyWater Technology will invest $1.8 billion to build a semiconductor production facility in Indiana, which is expected to create 750 new jobs.

The Minnesota-based company will construct the plant in the Discovery Park District at Purdue University in West Lafayette in partnership with the college. The planned production site allows SkyWater to respond to increasing customer demand for access to domestic development, manufacturing and advanced packaging for microelectronics, officials said.

Thomas Sonderman, SkyWater president and CEO said the project gives his company the opportunity to boost domestic production and shore up supply chains.

State officials said SkyWater’s plans for a new U.S. facility are in response to the increased demand for domestic semiconductor manufacturing. The company will utilize federal funding from the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act.

Founded in 2017, Skywater employs 600 people in Minnesota and Florida. Details for when hiring could begin in West Lafayette and the types of positions being filled will be released soon, officials said.

Based on the company’s plans to invest in its Indiana operations, the Indiana Economic Development Corp. said it would provide up to $29 million to SkyWater in conditional tax credits and $1 million in training grants based on the company’s job creation plans.

The IEDC also committed $20 million in redevelopment tax credits based on the company’s investment plans; up to $20 million in conditional structured performance payments; up to $500,000 in innovation vouchers; and $1 million in Manufacturing Readiness Grants.

The incentives are performance-based, meaning the company is eligible to claim state benefits once it makes eligible investments in innovation activities and employees are hired and trained, the state said. Purdue University, Greater Lafayette Commerce, the city of West Lafayette, the city of Lafayette, Tippecanoe County and Duke Energy also have offered additional incentives.

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  • Larry Avila Larry Avila

    Larry is an award-winning journalist with more than 25 years of experience working with daily newspapers and business-to-business publications around the Midwest. Avila is a Michigan native and a graduate of Central Michigan University.

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Filed Under: Business News, Economy, Manufacturing & Technology, Technology Tagged With: semiconductors, Creating Helpful Initiatives to Produce Semiconductors for America Act, Around Michiana, Purdue University, Indiana Economic Development Corp., CHIPS

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