Wolfspeed (North Carolina)

Credit: CHIPS for America

On October 15, 2024, The U.S. Department of Commerce and Wolfspeed, Inc. signed a non-binding preliminary memorandum of terms (PMT) to provide up to $750 million in proposed direct funding under the CHIPS and Science Act. The proposed funding would support the construction of a new silicon carbide wafer manufacturing facility in Siler City, North Carolina, helping to secure a reliable domestic supply of the semiconductors that will underpin the future energy economy and AI boom.

• The proposed CHIPS funding would be split across two projects in the Siler City, NC, and Marcy, NY locations:
  • The proposed CHIPS investment would support the construction of the John Palmour Manufacturing Center for silicon carbide in Siler City, North Carolina. This new 2-million-square-foot facility would become the United States’ largest silicon carbide wafer manufacturing facility and the world’s first high-volume 200mm silicon carbide wafer manufacturing facility.
• The silicon carbide devices manufactured by Wolfspeed power electric vehicles (EVs) and are utilized for renewable energy systems, industrial capacities, and artificial intelligence applications. Wolfspeed supplies next-generation silicon carbide technologies used in national security applications to the United States military.
• The North Carolina and New York projects together are estimated to create over 2,000 manufacturing jobs and 3,000 construction jobs and are part of the company’s previously announced more than $6 billion capacity expansion plan. 
• Wolfspeed has partnered with North Carolina Agricultural and Technical State University (N.C. A&T) and committed $4 million over five years to establish the Wolfspeed Endowed Scholars Program.