Gov. Tom Wolf has announced that a semiconductor company’s expansion will bring new jobs to the Lehigh Valley. WDIY’s Sarit Laschinsky has more.
Wolf announced Thursday that iDEAL Semiconductor Devices, a fabless semiconductor company located in Bethlehem, plans to expand its technology research and development.
According to a release, as part of the expansion, iDEAL Semiconductor plans to increase its footprint at Ben Franklin Technology Partners of Northeastern Pennsylvania by 15,000 square feet.
The company is moving toward full production this year, and requires additional space to accommodate its engineering, research and development personnel.
They also committed to investing $3.4 million into the project, creating 63 new high-paying jobs, and retaining existing jobs across Pennsylvania over the next three years.
IDEAL Semiconductor received a $1.4 million Pennsylvania Industrial Development Authority loan and a $338,000 Pennsylvania First Grant, and was encouraged to apply for various tax credit programs.
Founded in 2017, the company develops energy-efficient power semiconductors, with applications including electric vehicles, renewable energy projects, and data center services, among others.
iDEAL Semiconductor’s CEO and co-founder Mark Granahan said in a statement that the company is working with Pennsylvania to pursue CHIPS and Science Act funding – referring to the federal law signed by President Joe Biden in August boosting domestic research and manufacturing of semiconductors.
Granahan said these investments in companies like iDEAL Semiconductor would help ensure that the U.S. remains competitive in this sector.
(Original air-date: 8/29/22)
