Under its recent CHIPs Act, the state of Oregon is offering up to $200 million in grants, loans, and tax incentives to help semiconductor manufacturers build or expand their operations.
The legislation provides tax incentives for chip manufacturers to build plants in Oregon, research and development tax credits, workforce development grants, and tax credits based on the amount invested and the number of jobs created.
Oregon hopes to attract semiconductor manufacturers by supplementing funds available under the federal 2022 CHIPs and Science Act, which was designed to encourage U.S. companies to invest in advanced manufacturing and R&D, and to improve supply chains.
This additional funding, while it remains available, will make it easier for Oregon-based semiconductor manufacturers to take advantage of the financial benefits available through the federal legislation and will help them compete for high-technology jobs with other states hoping to attract the semiconductor industry.
To learn more about this time-sensitive program, or the credits that may be available to your business, contact our R&D Tax Credit team.