# Wolfspeed reaches $750M CHIPS Act funding agreement for New York expansion

Wolfspeed reached a $750 million preliminary memorandum of terms funding agreement under the CHIPS Act, unlocking an additional $750 million in private investment. The funding will accelerate expansion at the Marcy Nanocenter in Oneida County, New York, and support a new facility in Siler City, North Carolina.

- Type: Investment
- Announced: 2024-10-15
- Where: Oneida County, New York, United States
- Value: $750.0M
- Jobs: 5,000
- Status: announced
- Products: silicon carbide chips
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Wolfspeed](https://endata.com/companies/35100.md)
- [U.S. Government](https://endata.com/companies/46425.md) (investor)

## Sources

- [schumer.senate.gov](https://www.schumer.senate.gov/newsroom/press-releases/schumer-announces-new-750-million-preliminary-investment-for-wolfspeed-from-his-chips-and-science-law-senator-says-new_will-help-accelerate-ongoing-mohawk-valley-expansion--support-hundreds-of-good-paying-jobs-in-upstate-ny-at-marcy-nanocenter), 2024-10-15: "Wolfspeed has reached a $750 million preliminary memorandum of terms (PMT) funding agreement under the CHIPS & Science Law he led in writing and passing into law, helping them unlock an additional $750 million in private investment."
- [reuters.com](https://www.reuters.com/technology/ev-chipmaker-wolfspeed-set-receive-750-million-us-chips-grant-2024-10-15/), 2024-10-15: "Wolfspeed is set to receive $750 million in government"
- [nist.gov](https://www.nist.gov/news-events/news/2024/10/biden-harris-administration-announces-preliminary-terms-wolfspeed-solidify), 2024-10-15: "The proposed funding would support the construction of a new silicon carbide wafer manufacturing facility in Siler City, North Carolina."

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