# Polar Semiconductor to invest $525 million in Bloomington expansion

Polar Semiconductor will invest $525 million to expand its Bloomington manufacturing facility, doubling manufacturing capacity and creating 160 new jobs, with $120 million from the CHIPS Act and $75 million from the State of Minnesota.

- Type: Expansion
- Announced: 2024-05-13
- Where: Bloomington, Minnesota, United States
- Value: $525.0M
- Jobs: 160
- Status: announced
- Capacity: doubling manufacturing capacity
- Products: semiconductors
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Polar Semiconductor](https://endata.com/companies/44333.md)
- [Niobrara Capital](https://endata.com/companies/77380.md) (investor)
- [Prysm Capital](https://endata.com/companies/77381.md) (investor)

## Sources

- [greatermsp.org](https://www.greatermsp.org/news/2024/05/13/latest-news/federal-and-state-funding-award-kicks-off-new-growth-in-minnesota-s-semiconductor-industry/), 2024-05-13: "Polar Semiconductor will invest $525 million to expand its Bloomington manufacturing facility, leveraging $120 million in direct funding as part of the U.S. CHIPS and Science Act and a $75 million investment from the State of Minnesota."
- [polarsemi.com](https://polarsemi.com/news/polar-semiconductor-announces-plans-to-expand-semiconductor-manufacturing-facility-in-minnesota/), 2024-05-13: "Our expanded manufacturing facility will allow us to increase capacity and branch into innovative technologies to serve new customers and markets."
- [plantservices.com](https://www.plantservices.com/industry-news/news/55039717/polar-semiconductor-receives-120-million-from-the-chips-act-to-expand-minnesota-plant), 2024-05-14: "Our expanded manufacturing facility will allow us to increase capacity and branch into innovative technologies to serve new customers and markets."
- [eenewseurope.com](https://www.eenewseurope.com/en/polar-semi-in-525m-power-fab-expansion-to-become-us-owned/), 2024-05-14: "Polar Semiconductor is investing $525m in a doubling of capacity at its power fab"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.