Design and Construction Report Staff writer
IQE, Inc., a semiconductor manufacturer has announced plans to expand its operations in Greensboro, NC, a $305 million investment that will enhance manufacturing capabilities for next-generation compound semiconductor materials.
The Welsh company that has operated in Greensboro for more than a decade. The company currently employs 72 workers at its local facility, where it manufactures epitaxial (epi) wafers using molecular beam epitaxy (MBE) technology for the defense and aerospace sectors. The planned expansion will introduce a complementary manufacturing process known as metal-organic chemical vapor deposition (MOCVD), which is used to produce advanced semiconductor materials for the electric vehicle market.
“Greensboro has proven to be a strategic location for IQE and has provided access to exceptional talent,” said Jutta Meier, interim CEO of IQE. “We look forward to continuing our partnership with the city and progressing with our application for federal funding via the CHIPS Act. With support from state and federal partners, this expansion will allow us to increase our local footprint and further enhance our product offerings in the growing electric vehicle sector.”
The expansion will receive performance-based grant of $275,000 from the One North Carolina Fund. This fund assists local governments in attracting and retaining economic investment by offering financial incentives to companies that meet specific job creation and capital investment targets. The One NC Fund requires matching funds from local governments, which in this case, have been pledged by Greensboro and Guilford County.
“North Carolina is proud to be home to more than 110 semiconductor and microelectronics companies that collectively export $1.2 billion worth of products globally,” said Machelle Baker Sanders, secretary of the North Carolina Department of Commerce. “IQE’s decision to expand its operations here is a testament to the state’s competitive business climate, skilled workforce, and robust research partnerships that continue to attract advanced manufacturers.”
