U.S. Senate Committee on Rules and Administration

09/24/2024 | Press release | Distributed by Public on 09/24/2024 07:13

Klobuchar Announces Major Funding for Polar Semiconductor’s Bloomington Manufacturing Facility

WASHINGTON - U.S. Senator Amy Klobuchar (D-MN), a senior member of the Senate Commerce Committee, announced the U.S. Department of Commerce is awarding Polar Semiconductor $123 million in federal funding as part of the CHIPS and Science Act to expand its Bloomington manufacturing facility. Polar is the first company in the country to move from a preliminary agreement to the award stage. The funding will go toward expanding and modernizing the company's manufacturing facility in Bloomington, doubling the company's U.S. production capacity and creating new manufacturing and construction jobs in Minnesota.

"America must stay on the cutting edge of manufacturing to maintain our economic edge on the world stage. This landmark federal investment in Polar Semiconductor's Bloomington facility is a major step toward strengthening domestic production of advanced semiconductors," said Klobuchar. "I worked closely with Polar Semiconductor to secure this grant and ensure Minnesota continues to be a premier destination for business investment."

Polar produces high-voltage semiconductors for use in automotive, commercial and industrial applications at its 310,000-square-foot facility in Bloomington. The company produces 21,000 wafer semiconductors per month.

Klobuchar voted to pass the bipartisan CHIPS and Science Act to strengthen domestic semiconductor production and boost American competitiveness and innovation. The CHIPS and Science Act is providing significant resources to:

  1. Help companies build, expand, or modernize domestic facilities and equipment for semiconductor production;
  2. Kickstart development of the domestic semiconductor workforce and address near-term labor shortages;
  3. Make the largest five-year investment in public research and development in the nation's history, including in critical technologies such as artificial intelligence and advanced manufacturing, as well as boosting STEM education and regional technology hubs.

In June 2023, Klobuchar hosted a roundtable discussion and press conference at Normandale Community College in Bloomington with U.S. Secretary of Commerce Gina Raimondo to discuss the CHIPS and Science Act and how it can benefit Minnesota companies and workers. Polar Semiconductor VP of Business and Technology Development Rajesh Appat attended the roundtable.

In August 2022, Klobuchar held a press conference in Bloomington with executives from leading U.S.-based semiconductor designers and manufacturers with operations or headquarters in Minnesota to highlight how the CHIPS and Science Act will strengthen American economic competitiveness and spur innovation.

###