HP Said to Be Seeking to Expand Manufacturing and Development in U.S.
According to Oregon Live, HP Inc. appears to be seeking to bring some manufacturing back to the United States, adding new jobs, if it obtains federal funds the U.S. government is providing to encourage semiconductor manufacturing and tech manufacturing in the United States.
The federal funds would be provided via provisions of the CHIPS Act that was passed into law last summer.
CHIPS Act
The Creating Helpful Incentives to Produce Semiconductors and Science Act of 2022 (CHIPS Act) is designed to boost US competitiveness, innovation, and national security. It aims to encourage investments in domestic U.S. semiconductor manufacturing capacity – primarily in response to semiconductor shortages that occurred as a result COVID-19 supply-chain disruptions. CHIPS also encourages R&D and commercialization of new technologies such as quantum computing, AI, clean energy, and nanotechnology. But it‘s not clear if HP is looking to get involved in semiconductor manufacturing.
“The CHIPS Act gives us an opportunity to look at ways we can bring back some of the investments we’ve made overseas and bring those back to Corvallis,” Tuan Tran, president of HP’s imaging and printing, said at an event last month at HP facilities in Corvallis.
According to Oregon Live, Tran said HP wants to bring its development, prototyping and manufacturing back under one roof if it can obtain a share of the $50 billion provided by the CHIPS Act.
CEO Enrique Lores also said, “Thanks to that we will be able to continue to invest, expand our capabilities here.”
In a written statement, the company said: “HP Corvallis is home to some of the most cutting-edge MEMS (Micro Electrical Mechanical Systems) and Microfluidics R&D and manufacturing in the world. It’s a hub of innovation for HP and we are committed to investing in our future.”
More Resources
- November 2022: HP Welcomes Poly, Sets up New Business Group
- September 2022: HP Discusses How It’s Achieiving Supply-Chain Resilience
- September 2022: This Week in Imaging: HP Betting on Hybrid Work, Subscriptions and Services
- August 2022: HP Leadership Discusses Strategy, Growth Segments, and More
- August 2022: HP Revenue Down, Earnings Flat for Latest Quarter
You must be logged in to post a comment.