Powerex Inc., a supplier of semiconductor solutions, plans to invest at least $14 million to modernize and upgrade key assembly and test capabilities at its Youngwood, Pennsylvania, facility. The company expects the development to create at least 25 new jobs and retain a further 215 jobs.
As part of this project, Powerex, one of the last vertically integrated power semiconductor facilities in the United States, will expand its module assembly facility, double its module assembly capacity and expand its module reliability center. Powerex supplies discrete devices, modules, and high-power semiconductor solutions to many markets, including military power electronics applications, aircraft, alternative energy, electric vehicles, medical power supplies, and more.
To support Powerex's project, Pennsylvania Governor Josh Shapiro announced the availability of up to $1 million in eligible project costs from the Department of Community and Economic Development (DCED). The company will also receive up to $3 million. federal funds Licensed by the U.S. Department of Commerce under the CHIPS and Science Act.
“With this funding, we will strengthen our production capacity, create new jobs, and provide growth and advancement opportunities for our employees,” said Powerex CEO. Joseph Wolf said. ”This investment will help us meet the growing demand for Pennsylvania-made products and build a stronger future for our teams and communities. ”
Since taking office, the Shapiro administration has secured and announced more than $3 billion in private sector investment.
