The U.S. Department of Commerce announced $162 million in federal subsidies as part of a preliminary agreement with an Arizona-based computer chip maker to bolster the domestic supply of semiconductors and create new jobs. Government grants will allow Microchip Technology to expand the production of microcontroller units and semiconductors vital to the aerospace, automobile, defense, and industrial industries. About $90 million of CHIPS and Science Act funding will be used to improve a Microchip plant in Colorado Springs, Colorado. Another $72 million from the landmark legislation will be allocated to expand the company’s factory…
