The Biden-Harris Administration announced that the Department of Commerce and HP Inc. have signed a non-binding preliminary memorandum of terms to provide up to $50M in proposed direct funding under the CHIPS and Science Act. The proposed funding would support the expansion and modernization of HP’s existing facility in Corvallis, Oregon, which is part of the company’s “lab-to-fab” ecosystem in the region that spans from research and development activities to commercial manufacturing operations.
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