Current:Home > FinanceUS government to give $75 million to South Korean company for Georgia computer chip part factory-LoTradeCoin
US government to give $75 million to South Korean company for Georgia computer chip part factory
View Date:2024-12-23 18:29:38
COVINGTON, Ga. (AP) — The federal government will spend $75 million to help build a factory making glass parts for computer chips.
The U.S. Department of Commerce announced the investment Thursday in Absolics, part of South Korea’s SK Group.
The plant in Covington, Georgia, was announced in 2021. At the time, it was supposed to cost $473 million and hire 400 workers.
The plant will make a glass substrate that is used to package semiconductors. Federal officials say the substrate will enable more densely packed connections between semiconductors, leading to faster computers that use less electricity.
The Department of Commerce said this is the first time the CHIPS and Science Act has been used to fund a factory making a new advanced material for semiconductors. The 2022 federal law authorized the spending of $280 billion to aid the research and manufacturing of semiconductors in the United States.
The technology was developed at Georgia Tech in Atlanta. The SK Group hired a former researcher from the university to help commercialize the substrate.
“It is strategically essential that the United States have this domestic manufacturing capacity, and it’s a tremendous opportunity for the state of Georgia to lead the nation in manufacturing and innovation,” U.S. Sen. Jon Ossoff told reporters on Thursday. The Georgia Democrat has supported the effort.
SK Group owns an adjoining plant that makes polyester films that can be used on solar panels, in packaging and for other uses. The Korean conglomerate also owns a $2.6 billion complex to make batteries for electric vehicles in Commerce, northeast of Atlanta.
veryGood! (579)
Related
- Republican Gabe Evans ousts Democratic US Rep. Yadira Caraveo in Colorado
- NBA releases its schedule for the coming season, with an eye on player rest and travel
- Hurricane Hilary on path toward Southern California
- Paradise, California deploying warning sirens 5 years after historic, deadly wildfire
- Real Housewives of New York City Star’s Pregnancy Reveal Is Not Who We Expected
- Oklahoma City man kills his 3 children and estranged wife before taking his own life, police say
- 2 deaths suspected in the Pacific Northwest’s record-breaking heat wave
- Kellie Pickler Shares “Beautiful Lesson” Learned From Late Husband Kyle Jacobs
- Ryan Reynolds Makes Dream Come True for 9-Year-Old Fan Battling Cancer
- 4 Australian tourists rescued after going missing at sea off Indonesia for 2 days
Ranking
- U.S.-Mexico water agreement might bring relief to parched South Texas
- Biden’s approval rating on the economy stagnates despite slowing inflation, AP-NORC poll shows
- Maui fire survivors are confronting huge mental health hurdles, many while still living in shelters
- Yankees' road trip ends in misery, as they limp home under .500
- Florida Man Arrested for Cold Case Double Murder Almost 50 Years Later
- Ban on gender-affirming care for minors takes effect in North Carolina after veto override
- Colorado fugitive takes plea deal in connection with dramatic Vegas Strip casino standoff
- With a simple question, Ukrainians probe mental health at a time of war
Recommendation
-
Pentagon secrets leaker Jack Teixeira set to be sentenced, could get up to 17 years in prison
-
Miley Cyrus to Share Personal Stories of Her Life Amid Release of New Single Used to Be Young
-
Watch: Antonio Gates gets emotional after surprise Chargers Hall of Fame induction
-
Former district attorney in western Pennsylvania gets prison time for attacking a woman
-
Disease could kill most of the ‘ohi‘a forests on Hawaii’s Big Island within 20 years
-
Former Alabama correctional officer convicted in 2018 inmate beating
-
Sea temperatures lead to unprecedented, dangerous bleaching of Florida’s coral reef, experts say
-
With a simple question, Ukrainians probe mental health at a time of war