Infinera to receive up to $93M in direct CHIPS Act funding

Infinera and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms for Infinera to receive up to $93M in direct funding as part of the bipartisan CHIPS and Science Act. This proposed direct funding, when combined with investment tax credits available under the CHIPS and Science Act, could result in more than $200M in total federal incentives as well as potential state and local incentives. This proposed funding would support the expansion and modernization of both Infinera’s semiconductor capabilities in Silicon Valley, California and its advanced test and packaging capabilities in Lehigh Valley, Pennsylvania, increasing the company’s existing domestic manufacturing capacity by an estimated factor of ten. Combined proposed funding for these two projects could create up to 1,700 manufacturing and construction jobs while strengthening America’s supply chain, economic and national security.